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    Cyndy62's Avatar
    Cyndy62 Posts: 3, Reputation: 1
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    #1

    Aug 22, 2012, 07:48 AM
    par value of the common stock
    1. The owner, Gary Green, deposited $15,000 in the Green Lawn Company checking accounting on April 2. In return he received 1000 shares of Common Stock in his corporation. The par value of the common stock is $1 per share.

    Apr. 2. DR. Cr.
    Cash $16,000
    Gary Green, Capital $15,000
    Invested in Green Lawn Co.
    Common Stock 1,000
    (1000 shares x $1)
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Aug 22, 2012, 05:24 PM
    Dr cash 15000 cr issued capital 1000 cr share premium 14000
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    Cyndy62 Posts: 3, Reputation: 1
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    #3

    Aug 23, 2012, 05:24 PM
    Thank you, just hope I jounalize it correctly with the right words.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #4

    Aug 23, 2012, 05:27 PM
    Quote Originally Posted by Cyndy62 View Post
    Thank you, just hope I jounalize it correctly with the right words.
    Well I have already given you the body of the journal entry and the narration can be extracted from the data in the question
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    Cyndy62 Posts: 3, Reputation: 1
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    #5

    Aug 23, 2012, 05:40 PM
    Quote Originally Posted by paraclete View Post
    well I have already given you the body of the journal entry and the narration can be extracted from the data in the question
    Ok, thanks again
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