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The journal entry for issuing preferred stock is very similar to the one for common stock. This time Preferred Stock and Paid-in Capital in Excess of Par - Preferred Stock are credited instead of the accounts for common stock.
Answer and Explanation: The entry to record the issuance of common stock at a price above par includes a debit to Cash.
Stock issuances DebitCash or other item received(shares issued x price paid per share) or market value of item receivedCreditCommon (or Preferred) Stock(shares issued x PAR value)CreditPaid in capital in excess of par value, common (or preferred) stock(difference between value received and par value of stock)
Upon issuance, common stock is generally recorded at its fair value, which is typically the amount of proceeds received. Those proceeds are allocated first to the par value of the shares (if any), with any excess over par value allocated to additional paid-in capital.
The common stock formula is Outstanding Shares = Number of Issued Shares ? Treasury Stocks. Outstanding shares are the number of shares available to the company owners; treasury shares are shares bought back by the company, and issued shares are the total number of shares issued by the company.
There two basic ways that issuance fees can be accounted for, namely: As a reduction to paid-in capital. Equity issuance fees may be listed as a reduction of paid-in capital. ... As part of organizational costs. The second way that equity issuance fees can be accounted for is as part of a company's organizational costs.
A company issues common stock to raise money, so the debit will always be to cash. There will always be a credit to common stock for the # of shares issued x the par value. Additional paid-in capital (APIC) is the plug.
The value of common stock issued is reported in the stockholder's equity section of a company's balance sheet.