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Journalize the entries for October and November

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Reference no: EM132778822

Problem - On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on November 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80.

Required -

a. Journalize the entries for October 31 and November 19.

b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?

Reference no: EM132778822

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