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    CB84's Avatar
    CB84 Posts: 3, Reputation: 0
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    #1

    Mar 29, 2008, 06:26 PM
    State Authorization of Stock
    I am wondering how a journal entry is made when a state authorizes a company to sell common stock. Does the Dr. go to Common Stock and the Cr. To Stockholder's Equity?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Mar 29, 2008, 09:19 PM
    Being authorized to sell stock would require no Journal Entry.

    Selling the stock would require such an entry.
    CB84's Avatar
    CB84 Posts: 3, Reputation: 0
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    #3

    Mar 30, 2008, 08:21 AM
    Thank you so much!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #4

    Mar 30, 2008, 06:13 PM
    You're welcome
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