Question
On December 1, University Park Photo issued 10,000 shares of common stock to Jose Wisteria in exchange for $33,000 cash. My question is, in a
On December 1, University Park Photo issued 10,000 shares of common stock to Jose Wisteria in exchange for $33,000 cash.
My question is, in a journal entry, would I post $33,000 as a debit in the cash account, and 10,000 as a credit in common stock account? I am just unsure because then the accounts don't equal each other.
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Accounting Principles Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow
6th Canadian Edition
1118557328, 978-1118557327
