Question

Sasha Systems completed the following stock issuance transactions:

Jun 19 Issued 1,700 shares of $1 par common stock for cash of $12.00 per share. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. 11 Received inventory with a market value of $28,000 and equipment with a market value of $9,000. Issued 11,000 shares of the $1 par common stock in exchange.

Requirements
1. Journalize the transactions. Explanations are not required.
2. How much paid-in capital did these transactions generate for Sasha Systems?



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  • CreatedApril 29, 2014
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