On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par
Question:
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?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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a Oct 31 Cash 400000 shares 18 7200000 Common Stock 400000 shares 10 4000000 ...View the full answer
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Related Book For 
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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