On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34, and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12. a. Journalize the entries for January 22 and February 27. b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34, and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12. a. Journalize the entries for January 22 and February 27. 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 210,000 shares of $30 par common stock at $34, and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12.
a.
b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
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