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Serga [27]
3 years ago
15

On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on Nov

ember 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80. a. Journalize the entries for October 31 and November 19.
Business
1 answer:
ivann1987 [24]3 years ago
8 0

Answer: The answer is as follows:

Explanation:

Journal entries are as follows:

For October 31:

Cash  (400,000 × $18)                   $7,200,000

Common stock  (400,000 × $10)                                          $4,000,000

Paid in capital in excess of par value-common stock         $3,200,000

( record of issuing common stock)

For November 19:

Cash  (50,000 × $80)                    $4,000,000  

Preferred stock (50,000 × $75)                                             $3,750,000

Paid in capital in excess of par value-Preferred stock        $250,000

( record of issuing preferred stock)

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Explanation:

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3 years ago
Angelina's made two announcements concerning its common stock today. First, the company announced that its next annual dividend
tensa zangetsu [6.8K]

Answer:

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    $36,00

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To this case the value is: $2,16 / (0,10-0,04) = $36

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