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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? $

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? $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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?
$

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