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-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   Gerneral Journal posting (https://www.askmehelpdesk.com/showthread.php?t=814385)

  • Jul 22, 2015, 06:22 AM
    dstutz0124
    Gerneral Journal posting
    'The Speedy Clinic issued 4,000 additional shares of capital stock to Dr. Soges at $50 per share'

    What gets debited what gets credited on the General Journal?
    I think:
    Capital Stock: Debit
    Cash: credit
  • Jul 22, 2015, 08:09 AM
    pready
    Cash will be Debited because you are receiving cash. The amount will be 4,000 shares times $50 a share.

    For the stock you should know the par value. If there is no par value, then you will Credit Capital Stock for the same amount as the cash received.

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