On August 5 Synthetic Carpet Inc A Carpet Wholesaler Issued

On August 5, Synthetic Carpet Inc., a carpet wholesaler, issued for cash 500,000 shares of no-par common stock (with a stated value of $1) at $3, and on December 17, it issued for cash 5,000 shares of preferred stock, $180 par at $200.
a. Journalize the entries for August 5 and December 17, assuming that the common stock is to be credited with the stated value.
b. What is the total amount invested (total paid-in capital) by all stockholders as of December 17?

Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount