Issuance of Stock and Treasury Stock:
Problem 1). Alpaca Inc. issued 300,000 shares of no-par common stock at $15 per share. What is the journal entry to record this transaction?
Problem 2). Beluga Inc. issued 10,000 shares of $.02 par value common stock at $20 per share. For how much should the company credit its Additional Paid-in Capital account?
Problem 3). Emu Inc. reissued 8,000 shares of treasury stock at $44 per share. The stock, which has a par value of $.03, cost the company $30 per share two years ago. How much paid-in capital from treasury stock will the company have as a result of this transaction?