How much paid-in capital did these transactions generate for Susie Systems? – essay studess
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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?
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