Question

Susie Systems completed the following stock issuance transactions:
May 19 Issued 2,000 shares of $ 1 par value common stock for cash of $ 9.50 per share.
Jun. 3 Issued 300 shares of $ 3, no-par preferred stock for $ 15,000 cash.
11 Received equipment with a market value of $ 78,000 in exchange for 3,000 shares of the $ 1 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?



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  • CreatedJanuary 16, 2015
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