journal entry for stock shares

ElynC · #1 Nov 17, 2007, 10:20 AM

If a company issues 5000 shares of stock at $2/share, what is the opening journal entry to record this transaction?

SeanF138 · Feb 26, 2008, 11:41 AM

I'm assuming they issued common stock for cash.

Cash 10,000 (Debit)
Common Stock 10,000 (Credit)



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