Entries for Issuing Par Stock On January 14, Peerless Rocks Inc., a marble contr
ID: 2375782 • Letter: E
Question
On January 14, Peerless Rocks Inc., a marble contractor, issued for cash 65,000 shares of $8 par common stock at $27, and on March 17, it issued for cash 160,000 shares of $4 par preferred stock at $6.
a. Journalize the entries for January 14 and March 17.
If an amount box does not require an entry, leave it blank or enter zero ("0").
b. What is the total amount invested (total paid-in capital) by all stockholders as of March 17?
$
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a. Journalize the entries for January 14 and March 17.
If an amount box does not require an entry, leave it blank or enter zero ("0").
Jan. 14
Mar. 17
Explanation / Answer
a. Journalize the entries for January 14 and March 17.
If an amount box does not require an entry, leave it blank or enter zero ("0").
Jan. 14
Mar. 17
b. What is the total amount invested (total paid-in capital) by all stockholdersas of March 17?
$
a. Journalize the entries for January 14 and March 17.
If an amount box does not require an entry, leave it blank or enter zero ("0").
Jan. 14
Mar. 17
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