5:46 PM Tue Apr 26 < M 5 T Chapter 10 Homework Set 49% +0 Problem 1) LO 10.2 The following transactions and events took place regarding Beerbo Inc.: January 1, 2021: o Beerbo Inc. was created. The board of directors (BOD) set the maximum number of common shares that Beerbo can issue at one million. The BOD set the par value of the common stock at $1 per share. January 10, 2021: Beerbo issued 10,000 shares of its common stock privately to the founding members at par value in (exchange for consultation services) as follows: Mr. Swaggins: 9,000 shares Mr. Moosk: 1,000 shares January 15, 2021: Beerbo issued 100,000 shares of its common stock publicly at $20 per share (in exchange for cash) as follows: Mr. Swaggins: 60,000 shares Mr. Moosk: 15,000 shares various outside / public investors: 25,000 Assume Beerbo has the following accounts set up in its general ledger: Cash Common Stock - Par Consultation Service Expense Paid-in Capital - Treasury Stock Retained Earnings Treasury Stock Paid-in Capital in Excess of Par 1 1