Maurice Tutor

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Category > Accounting Posted 20 Aug 2017 My Price 4.00

Gallatin County Rocks Inc.

EX 11-3  Entries for issuing par stock                                                               ObJ.  2

On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of $45 par common stock at $54, and on August 7, it issued for cash 20,000 shares of pre- ferred stock, $10 par at $12.

a.     Journalize the entries for April 20 and August 7.

b.    What is the total amount invested (total paid-in capital) by all stockholders as of August 7?

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 07:08 PM My Price 4.00

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