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    lulusam's Avatar
    lulusam Posts: 1, Reputation: 1
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    #1

    Oct 16, 2008, 03:12 AM
    Journal entry for ordinary shares
    Hi, please could you tell me what the appropriate journal entry is for ordinary shares opening balance? Thanks you
    hamzashakaa's Avatar
    hamzashakaa Posts: 161, Reputation: 8
    Junior Member
    		  
    #2

    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)
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