Question

Entries for Issuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 110,000 shares of $5 par common stock at $8, and on November 19, it issued for cash 30,000 shares of preferred stock, $18 par at $61. a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank. Oct. 31 fill in the blank b65c04fa1ff505c_2 fill in the blank b65c04fa1ff505c_3 fill in the blank b65c04fa1ff505c_5 fill in the blank b65c04fa1ff505c_6 fill in the blank b65c04fa1ff505c_8 fill in the blank b65c04fa1ff505c_9 Nov. 19 fill in the blank b65c04fa1ff505c_11 fill in the blank b65c04fa1ff505c_12 fill in the blank b65c04fa1ff505c_14 fill in the blank b65c04fa1ff505c_15 fill in the blank b65c04fa1ff505c_17 fill in the blank b65c04fa1ff505c_18 b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19? $fill in the blank 848c0ffe7fecfc5_1

Answer 1

a

Oct. 31	Cash	880000		=110000*8
	Common Stock		550000	=110000*5
	Paid in Capital in excess of par-Common Stock		330000
Nov. 19	Cash	1830000		=30000*61
	Preferred Stock		540000	=30000*18
	Paid in Capital in excess of par-Preferred Stock		1290000
	b
	Total amount invested (total paid-in capital)	2710000		=880000+1830000