Question

a corporation issued 140 shares of its $5 par value common stock in payment of a $2,200 charge from its accountant for assistance in filing its charter with the state. the entry to record this transaction will include:

Answer 1

The entry to record this transaction will include a $2,200 credit to common stock.

Common stock alludes to the shares of proprietorship interest in a U.S. corporation. The proprietors of the common stock are alluded to as common stockholders, common shareholders, or basically as stockholders or shareholders. [A relatively couple of corporations issue favored stock in addition to its common stock.]

Generally, the holders of common stock:

• Choose the corporation's board of chiefs

• Vote on consolidations

• Participate in increases and decreases in the market value of the shares of common stock

• Get cash profits as the corporation's earnings and cash needs license

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