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