Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 310,000 shares of no-par common stock (with a stated value of $3) at $12, and on June 30, it issued for cash 20,000 shares of preferred stock, $90 par at $94. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. May 15 June 30 b. What is the total amount invested (total paid-in capital) by all stockholders as of June 307
Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 310,000 shares of no-par common stock (with a stated value of $3) at $12, and on June 30, it issued for cash 20,000 shares of preferred stock, $90 par at $94. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. May 15 June 30 b. What is the total amount invested (total paid-in capital) by all stockholders as of June 307
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Entries for issuing no-par stock
On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 310,000 shares of no-par common stock (with a stated value of $3) at $12, and on
June 30, it issued for cash 20,000 shares of preferred stock, $90 par at $94.
a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. If an amount box does not
require an entry, leave it blank.
May 15
June 30
b. What is the total amount invested (total paid in capital) by all stockholders as of June 307
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