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    dstutz0124's Avatar
    dstutz0124 Posts: 1, Reputation: 1
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    #1

    Jul 22, 2015, 06:22 AM
    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
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jul 22, 2015, 08:09 AM
    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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