On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 60,000 shares of...

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On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 60,000 shares of $12 par common stock at $41, and on February 27, it issued for cashi 140,000 shares of preferred stock, $8 par at $11. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feb. 27 Cash Feedback Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock 2,460,000 1,500,000 ✓ 720,000 174,000 X 1,260,000 280,000 Check My Work Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation, Recall the definition of legal capital and what affect that has on recording the sale of stock. b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? 4,000,000 On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 60,000 shares of $12 par common stock at $41, and on February 27, it issued for cashi 140,000 shares of preferred stock, $8 par at $11. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feb. 27 Cash Feedback Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock 2,460,000 1,500,000 ✓ 720,000 174,000 X 1,260,000 280,000 Check My Work Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation, Recall the definition of legal capital and what affect that has on recording the sale of stock. b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? 4,000,000

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A Journal entry for January 22 And Feb 27 In the books of Jefferson country rocks Inc Date Particula... View the full answer