Susie Systems completed the following stock issuance transactions:

May 19 Issued 1,100 shares of $2 par value common stock for cash of $13.00 per share.

Jun. 3 Issued 500 shares of $8, no–par preferred stock for $25,000 cash.

11 Received equipment with a market value of $73,000 in exchange for 10,000 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 Susie Systems?

Answer rating: 100% (QA)

1 DrCash 1300 x 1100 shares14300 CrCommon Stock2200 CrPaid i... View the full answer