Tresko Systems completed the following stock issuance transactions: Sep 19 Issued 1,800 shares of Si par common
Question:
Tresko Systems completed the following stock issuance transactions:
Sep 19 Issued 1,800 shares of Si par common stock for cash of $11.50 per share.
Oct 3 Sold 260 shares of S4.50 no-par preferred stock for $13,000 cash.
11 Received inventory with a market value of $23,000 and equipment with a market value of $18,000. Issued 2000 shares of the $1 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 Tresko Systems?
Common StockCommon stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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