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Generally in the format of:
Cash (cash paid up front)
Common Stock Subscribed Receivable (remaining amount due)
Common Stock Subscribed (Temporary 'Legal Capital' Account)
Additional Paid In Capital - Common
When fully paid, post:
Cash (cash paid)
Common Stock Subscribed Receivable
Common Stock Subscribed
Common Stock
What else can I help you with?
The journal entry to issue 1000000 shares of 5 dollars par common stock for 7dollars per share on January 2nd would be?
debit cash 70000000credit shares in share capital 5000000credit premium on shares capital 2000000
What is the journal entry for deposit for future subscription in stock and withdrawal of this deposits?
When a deposit for a future subscription in stock is made, the journal entry would be a debit to "Cash" and a credit to "Deposits for Future Stock Subscriptions." When the deposit is withdrawn, the entry would involve debiting "Deposits for Future Stock Subscriptions" and crediting "Cash." This reflects the movement of cash and the corresponding reduction in the liability associated with the subscription deposit.
Would the entry to transfer net income to the owner's capital account would include a debit to the owner's capital account?
No, the entry to transfer net income to the owner's capital account would not include a debit to the owner's capital account. Instead, it would involve a credit to the owner's capital account to increase it, reflecting the net income earned. The corresponding debit would typically be to the income summary or the retained earnings account, depending on the accounting method used. This entry effectively moves the net income from temporary accounts to the owner's equity.
What is the journal entry debiting cash and crediting capital would be a result of a?
she invested P 50, 000 in cash to start his business
What is the entry to close an owners withdrawal account?
To close an owner's withdrawal account, you would typically make a journal entry that debits the owner's capital account and credits the owner's withdrawal account. This reflects the transfer of the withdrawn amount back into the owner's capital, effectively zeroing out the withdrawal account. For example, if the owner's withdrawal account has a balance of $5,000, the entry would be: Debit Owner's Capital $5,000 and Credit Owner's Withdrawals $5,000.
What would be the journal entry for purchased 5000 shares of its own stock for 10 per share?
General entry in company books as follows: [Debit] Cash/Bank 50000 [Credit] Share capital 50000
The journal entry to issue 1000000 shares of 5 dollars par common stock for 7dollars per share on January 2nd would be?
debit cash 70000000credit shares in share capital 5000000credit premium on shares capital 2000000
What is the journal entry for deposit for future subscription in stock and withdrawal of this deposits?
When a deposit for a future subscription in stock is made, the journal entry would be a debit to "Cash" and a credit to "Deposits for Future Stock Subscriptions." When the deposit is withdrawn, the entry would involve debiting "Deposits for Future Stock Subscriptions" and crediting "Cash." This reflects the movement of cash and the corresponding reduction in the liability associated with the subscription deposit.
Would the entry to transfer net income to the owner's capital account would include a debit to the owner's capital account?
No, the entry to transfer net income to the owner's capital account would not include a debit to the owner's capital account. Instead, it would involve a credit to the owner's capital account to increase it, reflecting the net income earned. The corresponding debit would typically be to the income summary or the retained earnings account, depending on the accounting method used. This entry effectively moves the net income from temporary accounts to the owner's equity.
How would you earn a capital gain on your stock?
Buy cheap and sell high.
Does capital increase on the credit side?
Yes, capital increases on the credit side of the accounting equation. In double-entry bookkeeping, when capital is contributed or increased, it is recorded as a credit entry in the capital account. This reflects an increase in the owner's equity in the business. Conversely, withdrawals or losses would decrease capital and be recorded on the debit side.
What is the journal entry debiting cash and crediting capital would be a result of a?
she invested P 50, 000 in cash to start his business
How do I account for inventory that comes directly from a Shareholder - I have set up a shareholder inventory account but do not know what the other side of the entry should be. This is a corporation?
It depends. What is the shareholder getting in return? Is payment expected? Is stock being issue? The specific inventory asset probably doesn't need to be identified separately as shareholder inventory. If there is no stock or repayment expected then it should probably go to the Equity Account "Paid in Capital". But, this is a good question to ask your CPA.
What are advantages of preferred stock?
One reason is raise capital for a company without sacrificing the control of company. Issuing common stock would do this.
Why preferred stock is issued by company?
One reason is raise capital for a company without sacrificing the control of company. Issuing common stock would do this.
What is the entry to close an owners withdrawal account?
To close an owner's withdrawal account, you would typically make a journal entry that debits the owner's capital account and credits the owner's withdrawal account. This reflects the transfer of the withdrawn amount back into the owner's capital, effectively zeroing out the withdrawal account. For example, if the owner's withdrawal account has a balance of $5,000, the entry would be: Debit Owner's Capital $5,000 and Credit Owner's Withdrawals $5,000.
Where is a drawings account recorded in double entry booking?
It would be a credit to bank and a debit to the capital account. Most of the time there will be a drawings account, but it will be by the capital in the balance sheet.
