Stock issuance (Learning Objective 3) 10–15 min.

TDR Systems completed the following stock issuance transactions:

Sep 19 Oct 3 11 Issued 1,500 shares of $6 par common stock for cash of $11.50 per share.

Sold 250 shares of $4.00, no-par preferred stock for $12,000 cash.

Received inventory with a market value of $27,000 and equipment with a market value of $16,000. Issued 3,500 shares of the $6 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 TDR Systems?

AppendixLO1