Question

Skylar Systems completed the following stock issuance transactions:
May 19 Issued 1,700 shares of $2 par value common stock for cash of $9.50 per share. Jun. 3 Issued 200 shares of $9, no-par preferred stock for $10,000 cash.
11 Received equipment with a market value of $76,000 in exchange for 3,000 shares of the $2 par value common stock.
Requirements
1. Journalize the transactions. Explanations are not required.
2. How much paid-in capital did these transactions generate for Skylar Systems?


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  • CreatedJune 15, 2015
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