Swatford x 3 MyLab and Mastering x eCSecure https://www.mathod Take a Test-Parke

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Swatford x 3 MyLab and Mastering x eCSecure https://www.mathod Take a Test-Parker hxd.com/Student/PlayerTest.aspx?testld-180132679 ACC 2223-2nd Pd #1088 Test: Ch 13 Exam Spring 18 4 of 8 (0 complete) This Question: 17 pts Sydney Systems completed the following stock issuance transactions (Click the loon to view the transactions.) Joumalize the transactions. Explanations are not required 2. How much paid-in capital did these transactions generate for Sydney Systems? Requirement 1. Journalize the transactions. Explanations are not required. (Reoord debits first, then credits.Exclude explanations from any May 19: Issued 1,700 shares of $3 par value common stock for cash of $11.00 per share. Date Debit Credit May 19 Jun. 3: Issued 300 shares of S4. nopar preferred stock for $15,000 cash. Debit Jun. 3 Choose from any list or enter any number in the input fields and then continue to the next question. 2 3 4 6 caps lock

Explanation / Answer

Journal entry :

Total paid in capital = 18700+15000 = 33700

Date accounts & explanation debit credit May 19 Cash (1700*11) 18700     Common stock (1700*3) 5100      Paid in capital in excess of par value 13600 June 3 Cash 15000     Preferred stock 15000

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