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What is the total amount invested

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Problem - Entries for issuing no-par stock - On July 12, Lasting Carpet Inc., a carpet wholesaler, issued for cash 300,000 shares of no-par common stock (with a stated value of $4) at $9, and on November 18, it issued for cash 40,000 shares of $90 par preferred stock at $100. Journalize the entries for July 12 and November 18, assuming that the common stock is to be credited with the stated value. What is the total amount invested (total paid-in capital) by all stockholders as of November 18?

Reference no: EM132878397

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