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What is the journal entry for trading stock given as part of wages?
Wiki User
∙ 9y ago
debit wages expense
credit shares in share capital
Wiki User
∙ 9y ago
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Does a stock split require a journal entry?
Stock split require no journal entry rather memorandum entry is required about transaction.
What is the journal entry in the increase of authorized capital stock?
debit Unissued Common Stock credit Authorized Common Stock
How do you get the stock dividends in a journal entry?
debit stock dividendcredit dividend income
What is the journal entry of the opening stock?
opening stock is the stock at the end of previous year which is being carried forward to next year. so it is treated as opening balance (asset) n the following journal entry will b passed opening stock Dr. to liabilities *if liabilities are not there then capital is to be credited
Journal entry for adjusting closing stock with purchases?
what is entry of closing stock in p & L a/c & balance sheet
What is the Journal entry for opening stock?
don t known
What is the journal entry for theft of stock?
debit theft of stockcredit inventory / stock account
Will an increase in common stock require a journal entry?
Yes, it requires a journal entry as follows:debit cash / bank / assetscredit share capital
What is a journal entry to buy equipment with common stock?
Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank
What is the journal entry for declared dividends?
No journal entry for stock option until that stock option is not utilized by the employees or any person with stock option available to them.
What is the journal entry for unsubscribe capital stock?
There is no journal entry for unsubscribed capital as this is that portion of capital which is company has offered to shareholders for purchase but nobody has purchased that capital so no transaction incurred and hence no journal entry required.
What is the Journal entry for closing stock?
Closing Stock (Assets, Balance Sheet) A/C Dr. ----- Trading or P/L A/C Cr. (Expenses, Trading or P/L) A/C ----- The Dr. entry of the closing stock will remain as assets in inventory and will be carried forward to next year where as Cr. entry will be deducted [opening stock+purchase-closing stock (trading)] as like expenses in Trading or P/L A/c and not will be carried forward to the next year. ============================== Stock only needs to be one account (not both Opening and Closing accounts). Post it's balance to P&L (Cost Of Sales) as "Opening Stock". Journalise the new Stock figure as a credit "Closing Stock" to P&L (Cost Of Sales) and debit the Stock account. Calculate Cost Of Sales as above.
