Respuesta :
Answer:
Explanation:
Jan. 22
Dr Cash 7,140,000
Cr Common Stock 6,300,000 [210,000*30]
Cr Paid in capital in excess of par 840,000
Feb. 27
Dr Cash 180,000
Cr Preferred Stock 135,000
Cr Paid-In Capital in Excess of Par-Preferred 45,000
b) Total amount invested = Common stock + total paid in capital = 6,300,000+840,000+135,000+45,000 = 7,320,000
- The journal entries and the total amount invested is to be shown below:
(a)
On Jan. 22
Cash 7,140,000
To Common Stock 6,300,000 [210,000 × 30]
To Paid in capital in excess of par 840,000
(Being the issuance of the common stock is recorded)
On Feb. 27
Cash 180,000
To Preferred Stock 135,000
To Paid-In Capital in Excess of Par-Preferred 45,000
b)
Total amount invested
= Common stock + total paid in capital
= 6,300,000+840,000+135,000+45,000
= 7,320,000
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