Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 45,000 shares of $12 par common stock at $41, and on February 27, it issued for cash 130,000 shares of preferred stock, $5 par at $8. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feb. 27 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 45,000 shares of $12 par common stock at $41, and on February 27, it issued for cash 130,000 shares of preferred stock, $5 par at $8. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feb. 27 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Entries for Issuing Par Stock
On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 45,000 shares of $12 par common stock at $41, and on February 27, it issued for cash 130,000 shares of
a.
If an amount box does not require an entry, leave it blank.
| Jan. 22 | Cash | ||
| Common Stock | |||
| Paid-In Capital in Excess of Par-Common Stock | |||
| Feb. 27 | Cash | ||
| Preferred Stock | |||
| Paid-In Capital in Excess of Par-Preferred Stock |
b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
$
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