from where he get 9,000 ??? E10-19A (similar to) Famoun Spoting Goods is authori

Question

from where he get 9,000 ???

E10-19A (similar to) Famoun Spoting Goods is authorined to isse 10.000 shres of common slock Daring a eo-month period, Faous compieted these stock-ssuance bansactions Review 2 Prepare the seckoders equily secion of amous Sporting Goods belance sheet for the trensections glven in th Click the icon to see the Worked Out Solution Worked Out Solution Requirement 1 Feb 23 Cash (1,500513.00)-519 500 Requirem Paid-in Capital in Excess of Par-Common (519,500-39,000)- $10 500 Mar 12. Paldin Caplain rrass of Par-Common S20.000 + $45.000-$22.800-$42.200 Fel 23Isued 1,500 shars of 6.00 par common shock for cash of $13.00 per share $22 8003.800 shares x$6 00 par common stock 12 Rclved vntony with a markt vlue of 520,000 and aqipmant with markt Fab valuc of S45 000 or 3,000 shares of the $6 00 par common sck Requirement 2 Total common shares, 1,500 shares a 3.800 shares-S300 Print Done Par value perTotl par vale of por shares issued common shares 31,800 5300 X 600 Paid-in Capital

Explanation / Answer

Solution:-

In Question, it is given that 1500 shares of $6 par value issued at $13 for Cash.

So Par Value of Shares which will be Credited to the Share Capital A/c is (1500*6) = $9000

And the total Cash Received (1500*13) = $19500

So, the excess amount will be credited to the Excess to Par Value A/c is (19500-9000) = $10,500

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