Question
Help with JOURNALIZING ISSUANCE OF STOCK Cyberdyne Systems completed the following stock issuance transactions May 19-issued 1,700 shares of $3 par value common stock for
Help with JOURNALIZING ISSUANCE OF STOCK
Cyberdyne Systems completed the following stock issuance transactions
May 19-issued 1,700 shares of $3 par value common stock for cash of $10.50 per share
June 3-issued 300 shares of $9, no-par preferred stock for $15,000 cash
June 11-This time they RECEIVED equipment with a market value of $68,000 in exchange for $5000 shares of the $3 par value common stock
Two Objectives-I should Journalize the Cyberdyne Systems transactions then calculate How much PAID IN capital did these transactions generate for Cyberdyne Systems?
Excel Spreadsheet Date-Accounts and explanation-Debit-Credit
I know it is debit May first right then the first debit then three credits? June one debit one credit? Then June 11 one Debit, then two credits?
Then I have to figure out Cash for Common stock ???
Cash for preferred stock ???
Equipment for Common stock ???
Total paid in capital ????
Financial Accounting Thanks for the help.
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