FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of $50 par
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- On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 120,000 shares of no-par common stock (with a stated value of $3) at $12, and on June 30, it issued for cash 15,000 shares of preferred stock, $65 par at $72.a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank.May 15 June 30 b. What is the total amount invested (total paid-in capital) by all stockholders as of June 30?$arrow_forwardOn May 10, a company issued for cash 2,000 shares of no-par common stock (with a stated value of $5) at $14, and on May 15, it issued for cash 2,000 shares of $18 par preferred stock at $58. Journalize the entries for May 10 and 15, 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 10 May 15arrow_forwardOn May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4) at $17, and on May 15, it issued for cash 2,000 shares of $17 par preferred stock at $61. Journalize the entries for May 10 and 15, 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.arrow_forward
- On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 140,000 shares of $8 par common stock at $12, and on November 19, it issued for cash 60,000 shares of preferred stock, $18 par at $61. a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank. Oct. 31 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank Nov. 19 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?$fill in the blankarrow_forwardOn April 2, 9000 shares of $6 Par common stock were issued at $22 and on april 7, 4000 shares of $60 par preferred stock were issued at $104. Journalize the entries for april 2 and 7.arrow_forwardOn April 1, 9,000 shares of $8 par common stock were issued at $26, and on April 7, 2,000 shares of $80 par preferred stock were issued at $108. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. Apr. 1 Apr. 7arrow_forward
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