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Journal Transactions and Paid-in Capital of ACL Systems Company

Question

ACL Systems issued 5,000 shares of $20 par value common stock at $45 per share.

Requirements

  1. Journalize the transactions. Explanations not required.
  2. How much paid-in capital did these transactions generate for ACL Systems?

Summary

This question belongs to accounting and discusses about journal transactions and paid-in capital of a company.

Total word count: 23

 

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