On January 29, The Stone Store Inc., a granite contractor, issued 150,000 shares of $20 par common

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On January 29, The Stone Store Inc., a granite contractor, issued 150,000 shares of $20 par common stock for cash at $46 per share, and on May 31, it issued 200,000 shares of $8 par preferred stock for cash at $12 per share.

a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transactions.

b. What is the total amount invested (total paid-in capital) by all stockholders as of May 31?

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Survey Of Accounting

ISBN: 9780357132593

9th Edition

Authors: Carl S. Warren, Amanda Farmer

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Question Posted: Sep 25, 2020 07:16 AM

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On January 29, The Stone Store Inc., a granite contractor, issued 150,000 shares of $20 par common

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a b 9300000 6900000 2400000 Jan 29 Assets May 31 Cash 6900000 Statement of Cash Flows Jan 29 Fina...View the full answer

Survey Of Accounting

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