This Question: 17 pts Sydney Systems completed the following stock issuance tran

Question

This Question: 17 pts Sydney Systems completed the following stock issuance transactions (Click the icon to view the transactions.) Requirements 1. Joumalize the transactions. Explanations are not required 2. How much paid-in capital did these transactions generate for Sydney Systems? Jun. 3. Issued 300 shares of $4. no-par preferred stock fr S15.000 cash. Debit Credit Accounts Date Jun. 3 Jun. 11: Received equipment with a market value of $75,000 in exchange for 8,000 shares of the $3 par value common stock Debit Credit Date Jun. 11 Choose from any list or enter any number in the input fields and then continue to the next question. 88 Fa 3 4 5

Explanation / Answer

03-Jun Cash 15000             Preferred stock 1200 (300*4)             Paid in value in excess of par preferred stock 13800 11-Jun Equipment 75000             Common stock 24000 (8000*3)             Paid in value in excess of par common stock 51000 2 Paid in capital increase by 15000+75000 90000

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