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What are the four major types of transactions that affect equity?
revenue expenses dividends and common stock
What is mean by revenue in accounting?
revenue mean the grows of stock when you sale out the item or is the profit of income
What is the journal entry for shares of common stock issued for an amount worth of services rendered in organizing and chartering?
debit shares in companycredit services revenue
What are the journal entries to record the exchange of common stock?
debit common stock of one typecredit common stock of other type
Is common stock a debit or a credit?
Common Stock is a Credit. Closing Stock is a Debit.
What are the four major types of transactions that affect equity?
revenue expenses dividends and common stock
What is mean by revenue in accounting?
revenue mean the grows of stock when you sale out the item or is the profit of income
What is the journal entry for shares of common stock issued for an amount worth of services rendered in organizing and chartering?
debit shares in companycredit services revenue
How does preferred stock differ from common stock?
pay dividend before common stock
Can common stocks become preferred stocks?
Yes if there is a clause while issuing common stock that stock holder can convert the common stock to preffered stock.
What are the journal entries to record the exchange of common stock?
debit common stock of one typecredit common stock of other type
What is running down stock?
basically, it is selling the stock you have without buying in any more, so to only create revenue and no costs
Is common stock a debit or a credit?
Common Stock is a Credit. Closing Stock is a Debit.
Is a common stock account increased by credit?
Yes, credits increases the common stock because common stock has credit as a normal balance of account.
What would cause common stock shares issued to exceed common stock shares outstanding?
declaration of a stock dividend
Explain what is Stock out cost?
Stock out cost is that cost which a company may earn if stock was not finished for example revenue could be earned by using that inventory stock or sales order may be lost due to non-availability of stock etc.
Do Common stock has a normal credit balance?
Common Stock normally has a Credit Balance.
