Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $59,000. In addition, Axle received cash for 7,000 shares of its $20 par preferred stock at par value and 7,500 shares of its no-par common stock at $45 per share. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $ Rates Corp. issued 1,000 shares of no-par common stock for $14 per share. Read the requirements. Requirement 1a. Record issuance of the stock if the stock is true no-par stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit i Requirements 1. Record issuance of the stock if the stock: a. is true no-par stock. b. has stated value of $4 per share. 2. Which type of stock results in more total paid-in capital? Print Done The charter for KCAS-TV, Inc. authorizes the company to issue 100,000 shares of $7, no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, KCAS - TV completed the following transactions: (Click on the icon to view the transactions) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Date Accounts and Explanation Debit Credit Sep. 6 Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of the KCAS - TV balance sheet at September 30, 2018, assuming KCAS-TV, Inc. had net income of $39,000 for the month. More Info Print Done Sep. 6 Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. 12 Issued 500 shares of preferred stock for cash of $24,000. 14 Issued 1,700 shares of common stock in exchange for land with a market value of $19,000. Print Done