Question

beta electronics issued 100,000 shares of no-par common stock at $2.50 per share. what is the journal entry to record this transaction?

Answer 1

Debit: 200000 in cash This transaction is noted in the journal entry Common Stock 200000.

What is the transaction's journal entry?

The date, the amount to be credited and debited, a brief description of the transaction, the accounts involved, and other details pertinent to a specific business transaction are all included in each journal entry. Depending on the company, it might include a list of the impacted subsidiaries, tax information, and other details.

How are journal entries written down?

Journal entries are typically made in the main ledger, but they can also be entered in a subsidiary ledger and subsequently rolled forward into the general ledger once they have been summarized. The company's financial statements are then generated using the general ledger.

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