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lulusam
Oct 16, 2008, 03:12 AM
Hi, please could you tell me what the appropriate journal entry is for ordinary shares opening balance? thanks you
hamzashakaa
Oct 16, 2008, 03:43 AM
When shares are issued (Sold) for cash the following entry is performed:

Dr. Cash
Cr. Common stock ( For the Par Value)
Cr. Capital in excess of par (The amount above the par value)