Hi,

I was wondering if someone could help me with the following problem:

What is the journal entry for the following problem:

The company sold 1000 shares of common stock to the market. The par value was $5 and the market value was $10 per share.

Cash 10000
Common stock 5000
Paid in capital excess
Of par 5000

Pinkey, we do not just simply give answers away to homework. For a short little entry like this, it's OK to explain what the entry is, but emphasis on explain. People don't learn from just seeing answers, because they don't know why you did what you did.

The thread is also over three years old and is going to be closed.