mandee0625
Dec 5, 2007, 10:26 AM
Owners invest $60,000 at the beginning of January and receive 5000 shares of $2 par common stock.
pready
Dec 6, 2007, 06:52 PM
Do you mean the company received $60,000 cash from investers?
If so, then your Journal entry will be:
Debit Cash 60,000
Credit Capital Stock 10,000
Credit Additional Paid-in Capital 50,000