WebAug 3, 2024 · Debit: Credit: Cash: 80,000 : Common Stock ($0.01 par value) 100: Additional paid-in capital : 79,900: If Arlington were to only sell the stock for amount equal to the par value, then the entire credit would be to the Common Stock account. There would be no entry to the Additional Paid-In Capital account. WebJul 9, 2024 · Most stocks you hear about are common stocks -- here's what they are. A common stock is a representation of partial ownership in a company and is the type of …
Gauge Assessment. Journalize the following business transactions …
WebThe general ledger is a record containing all accounts used by a company. Prepaid accounts are __ (assets/liabilities) that represent prepayments of future expenses and are … WebApr 11, 2024 · The primary difference between debit vs. credit accounting is their function. Depending on the account, a debit or credit will result in an increase or a decrease. … my speedy base
1.4 Rules of Debit (DR) and Credit (CR) - Unizin
WebOct 11, 2014 · Best Answer. Copy. Common stock in company’s balance sheet is credit as it is the liability of the business to pay it back to it’s owners while it is debit in the investors balance ... WebAccounting questions and answers. Date Account Debit Credit Ref 40000 1-Mar Cash Common stock (Return goods to Gem Warehouse) 40000 22000 1-Mar Cash Note payable 22000 3-Mar Prepaid rent Cash 1500 1500 Equipment Cash 4320 4320 Advertising Cash 150 150 4-Mar Equipment Cash 480 480 6-Mar Inventory Accounts payable 17324 … WebNov 8, 2024 · For example, common stock and retained earnings have normal credit balances. This means an increase in these accounts increases shareholders' equity. The dividend account has a normal debit balance; when the company pays dividends, it debits this account, which reduces shareholders' equity. the shmenges brothers polka band