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    faheemiiui's Avatar
    faheemiiui Posts: 2, Reputation: 1
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    #1

    Sep 16, 2007, 09:33 PM
    Journal entry for purchase stock
    I have to make accounting module for pharmacy. Tell me whether I'm making rite entry or not

    Event is "Purchase of stock from manufacture on credit"
    Account are
    Manufacture_account Credit
    Inventory Debit

    Also tell me what will be its closing entry, is it correct

    Manufacture_account Debit
    Purchase_account Credit

    Or I have to close manufacture_account in A/P
    Irfan Akhter's Avatar
    Irfan Akhter Posts: 4, Reputation: 1
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    #2

    Sep 17, 2007, 02:18 AM
    U must credit the accounts payable account
    faheemiiui's Avatar
    faheemiiui Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Sep 17, 2007, 02:54 AM
    U mean I must close manufacture_account in A/P or you mean that after close manufacture accout in purchase_account I may make another closing entry i.e
    Purchase_account Debit
    A/P Credit

    Answer briefly
    pgfrazier's Avatar
    pgfrazier Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Sep 3, 2011, 05:28 AM
    What journal entry to I make if a business began making a deposit in a company bank accounot of $24000.00, in exchange of 4800 shares of $5 par value common stock?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #5

    Sep 4, 2011, 02:51 PM
    Debit Cash for the amount of cash received
    Credit Common Stock for the amount (par value * number of shares issued)
    tkswafford's Avatar
    tkswafford Posts: 1, Reputation: 1
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    #6

    Mar 4, 2013, 05:28 PM
    What is the journal entry for 20% stock in a parent company?
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