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    crazyitalian143's Avatar
    crazyitalian143 Posts: 6, Reputation: 1
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    #1

    Apr 16, 2007, 06:52 AM
    Journal Entry
    10 investors contribute $2500 each in order to start a new business venture. Each will receive 1000 shares of stock. Can't figure out journal entry
    goldenbutterfly's Avatar
    goldenbutterfly Posts: 63, Reputation: 8
    Junior Member
    		  
    #2

    Apr 16, 2007, 06:58 AM
    The business will be receiving a total of 25000 from the investors. Assuming $2.50 par value of stock

    dr. Cash 25,000
    cr. (Common/Preferred) Stock 25,000
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