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Equity Account
When shares have no par value, the entire amount of the sale price is recorded in the common stock account. This account is classified as an equity account, and so appears near the bottom of a reporting entity's balance sheet
Curtis Strite
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∙ 15y agoshareholder's equity
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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 are the accounting journal entries for the redemption of common stock?
Debit common stockCredit redemption of common stock account
What are the accounting journal entries to record common stock redemption?
Debit common stockCredit redemption of common stock account
What type of account is capital stock?
Capital Stock is an equity account. You may think of equity as ownership.
What are the journal entries to record the exchange of common stock?
debit common stock of one typecredit common stock of other type
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 are the accounting journal entries for the redemption of common stock?
Debit common stockCredit redemption of common stock account
What are the accounting journal entries to record common stock redemption?
Debit common stockCredit redemption of common stock account
What type of account is capital stock?
Capital Stock is an equity account. You may think of equity as ownership.
A firm has 1000000 in its common stock account and 2500000 in its paid-in capital account The firm issued 100000 shares of common stock What was the original issue price if only one stock iss?
10
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 a type of security?
common stock
How is common stock dividends distributable classified?
Common stock dividends distributable is an equity account and it has a normal credit balance. It is added to capital stock on the balance sheet.
What is the similarity between retained earnings and common stock accounts?
which of the following describes the similarity between the retained earning, and common stock account?
Is it true that stock investments account is debited at acquisition under both the equity method and cost method of accounting for investments in common stock?
the stock investments account is debited at acquisition under both the equity method and cost method of accounting for investments in common stock
What is the account used to transfer assets from a business to its stockholders?
Common stock
The Common Stock Distributable account is classified as a current liability?
FALSE!
