Question

petered sock, $45 par at $56 Required: B. What is the total amount invested (totaí pad-in capkta) by all stockholders as of November 197

Answer 1

date	accounts	debit	credit
octpber 31	Cash a/c (70,300*$15)	1,054,500
	........To common stock a/c....(70,300*$10)		703,000
.	........To paid in capital in excess of par- common stock a/c (70,300*$5)		351,500
november 19	cash a/c (18,450*$56)	1,033,200
	...........To preferred stock a/c (18,450*$45)		830,250
	...........To paid in capital in excess of par- preferred stock (18,450*$11)		202,950

b.total amount invested:

common stock	703,000
paid in capital in excess of par common stock	351,500
preferred stock	830,250
paid in capital in excess of par - preferred stock	202,950
total paid in capital	2,087,700