Question

Entries for Issuing Par Stock On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 140,000 shares of $8 par common stock at $10, and on November 19, it issued for cash 40,000 shares of $20 par preferred stock at $68. a. Journalize the entries for October 31 and November 19. For a compound transaction, if an amount box does not require an entry, leave it blank. Oct. 31 Cash ✓ Common Stock II Paid In Capital in Excess of Par Common Stock III 100 Nov. 19 Cash Preferred Stock Paid In Capital in Excess of Par Preferred Stock Feedback b. What is the total amount invested (total paid in capital) by all stockholders as of November 197

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a Journalize the entries for october 31 and November 19 Date Account/Explanation Debit Credit Oct-31 Cash Dr (140000* $ 10) $14,00,000 common stock (140000*$8) Paid In capital in excess of Par-common Stock ( 140000* $2) $11,20,000 $2,80,000 (Issued shares 140,000 share of $8par common stock at $ 10) Nov-19 Cash Dr ( 40000*$68) $27,20,000 Preferred Stock (40000*$20) Paid in capital in excess of Par-Preferred Stock (40000*$48) $8,00,000 $19,20,000 (Issued shares 40,000 share of $ 20 par Preferred stock at $ 68) b what is the total amount invested (total paid in capital) by all stock holders as of November 19 $41,20,000