Susie Systems completed the following stock issuance transactions i (Cljick the
ID: 2794537 • Letter: S
Question
Susie Systems completed the following stock issuance transactions i (Cljick the icon to view the transactions.) Requirements 1. Journalize the transactions. Explanations are not required 2. How much paid-in capital did these transactions generate for Susie Systems? Requirement 1. Joumalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any joumal entries.) May 19: Issued 2,000 shares of $3 par value common stock for cash of $9.50 per share Date Accounts Debit Credit May 19 Jun. 3: Issued 400 shares of $7, no-par preferred stock for $20,000 cash Date Accounts Debit Credit Jun. 3 Choose from any list or enter any number in the input fields and then continue to the next questionExplanation / Answer
the following are the required transactions:
june 3:
june11:
Requirement 2:
total paid in capital = $19,000 +$20,000 +$73,000 =>$112,000
May 19 Cash a/c $19,000 .........To Common stock a/c $6,000 ..........To Paid in capital in excess of par - common stock a/c $13,000 (cash = 2,000 *$9.50=>$19,000) (common stock = 2,000*$3) (paid in capital = 2,000*$6.50)Related Questions
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