On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30

Question:

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34, and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12.
a. Journalize the entries for January 22 and February 27.
b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?

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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