Ask Experts Questions for FREE Help !
Ask
    twilight123's Avatar
    twilight123 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Sep 21, 2009, 11:00 AM
    Common Stock
    What accounts would you debit and credit for a journal entry that says... sale of common stock?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Sep 21, 2009, 06:14 PM

    Cash because you receive cash
    Common Stock for par value of stock
    Additional Paid-in Capital for amounts over par value of the stock.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Calculating Preferred Stock and Common Stock Dividend [ 1 Answers ]

I want help understanding calculating dividends on preferred stock, here is the question: Golf-Easy Company has 10,000 shares of 3% preferred stock of $50 par and 25,000 shares of $100 par common stock. The following amounts were distributed as dividends: Year 1 $40,000 Year 2 ...

Preferred stock and common stock [ 1 Answers ]

Marsala company has 5000 shares of 2% preferred stock of $75 par and 10,000 shares of $150 par common stock. The following amount were distributed as dividend Y1 2000 y2 4,000 y3 40000

Adjusting entries for common stock and preferred stock. [ 1 Answers ]

This is a question off my problem. I am hoping that someone can help. The corporation has stocks of preferred stock with a number of shares of 400 that cost $6,000 and common stock of shares for 300 that cost $9,000. The common stock has purchases on march 30 of 25 shares for the cost of $950 and...

View more questions Search