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

    Nov 17, 2007, 12:20 PM
    Journal entry for stock shares
    If a company issues 5000 shares of stock at $2/share, what is the opening journal entry to record this transaction?
    SeanF138's Avatar
    SeanF138 Posts: 11, Reputation: 2
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    #2

    Feb 26, 2008, 01:41 PM
    I'm assuming they issued common stock for cash.

    Cash 10,000 (Debit)
    Common Stock 10,000 (Credit)
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