Required

1. Journalize the transactions. Explanations are not required.

2. How much contributed capital did these transactions generate for Shahidi Corporation?

hint 2 Issuing shares

2. Contributed capital, $143,500

E13-5 Shahidi Corporation engaged in the following share transactions in the first quarter of their fiscal year: Jan. 19 Issued 4,500 common shares for cash of $11.00 per share. Feb. 3 Sold 1,000 $1.50 Class A preferred shares for $15,000 cash to new investors. 11 Received inventory valued at $20,000 and vehicles with market value of $17,000 for 5,800 common shares. Mar. 15 Issued 3,000 $1.00 Class B preferred shares for $14.00 per share