When a company issues 29,000 shares of $2 par value common stock for $20 per share, the journal entry for this issuance would include a?

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29-07-2022
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When a company issues 29,000 shares of $2 par value common stock for $20 per share, the journal entry for this issuance would include a?

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tripatsingh039 tripatsingh039 · Answer 1 · 2022-08-05T13:06:56+02:00

A credit to Additional Paid-in Capital for $522000, we have to deduct par value cost i.e. $2 from per share cost i.e. $20, now multiply $18 with number of shares i.e. 29000.

More about Additional Paid-in Capital:

The excess amount that a company receives from investors over and above the par value of shares (equity or preferred) at the time of an IPO is referred to as additional paid-in capital, also known as capital surplus.

It can be thought of as the profit that a company makes when it issues the stock for the first time in the open market. The bare minimum required to purchase a share of stock is known as the par value. It implies that this base sum must be paid in order to acquire a share.

Learn more about Capital here:

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