Examples of Journal Entries for Reporting and Analyzing Stockholders' Equity.Full description
Examples of Journal Entries for Receivables.Full description
AccountingFull description
Journal EntriesFull description
Example of closing journal entries.Full description
Flash Cards to be printed on a double sided printer.
Full description
Accounts Payable Journal EntriesFull description
FHFHH
A flow Chart for Accounting Transactions.
Journal Entries for the Perpetual Inventory MethodFull description
Examples of journal entries for long lived assets.
Examples of Closing Journal Entries for a Sole Proprietorship or a PartnershipFull description
Advanced Accounting
Notes by Vasco da Gama of Historical importance
Full description
Journal entries for Loss of Goods on ConsignmentFull description
Property Notes courtesy of Nick 'Big Dog' WoodFull description
Historical background of EquityFull description
details
SAPFull description
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For Accounting people
Reporting and Analyzing Stockholders Equity ’
Issuance of stock: Journal Entry Account Title
Transaction Description
Issuance of Common Stock at par value Issuance of Common Stock above par value Issuance of Common Stock at stated value Issuance of Common Stock above stated value
Cash
Debit
Credit
XXX Common Stock
Cash
XXX XXX
Common Stock PIC in Excess of Par Value-Common Cash
XXX XXX XXX
Common Stock Cash
XXX XXX
Common Stock PIC in Excess of Stated Value-Common Value-Common
XXX XXX
Record common stock always at its par or stated value. Multiply the number of shares sold times the par or stated value to get the dollar amount credited to common stock. Subtract the par or stated value from the market price to calculate the paid-in-capital in excess of par value for the common stock per share. Next, multiply the resulting amount time the number of shares sold to calculate the dollar amount for the paid-in-capital in excess of par value-common.
Issuance of Preferred Stock: Journal Entry Account Title
Transaction Description
Issuance of Preferred Stock at par value Issuance of Preferred Stock above par value
Cash
Debit
Credit
XXX Preferred Stock
Cash
XXX XXX
Preferred Stock PIC in Excess of Par Value-Preferred
XXX XXX
Calculated the dollar amounts for preferred stock in the same manner as for common stock .
Treasury Stock: Transaction Description
Journal Entry Account Title
Debit
Credit
Purchase of treasury Treasury Stock XXX stock Cash XXX Multiply the per share market cost times the number of shares purchased to get the amount.
Dividends Payable XXX Cash XXX Calculate the dollar amount for common stock dividends by multiplying the amount per share times the number of shares outstanding. Shares outstanding are calculated by subtracting the number of treasury stock shares from the number of shares sold to the public.
Stock Dividends: Journal Entry Account Title
Transaction Description
Declaration Date
Retained Earnings (Stock Dividends) Common Stock Dividends Distributable PIC in Excess of Par Value-Common
Record Date
Debit
Credit
XXX XXX XXX
No Journal Entry
Common Stock Dividends Distributable Common Stock Calculate by multiplying the number of shares times the par value. Issuance Date
XXX XXX
Closing Entries for Income: Transaction Description
Journal Entry Account Title
Debit
Closing a net income into Retained Earnings
Income Summary Retained Earnings
XXX
Closing a net loss into Retained Earnings
Retained Earnings Income Summary
XXX
Credit
XXX
XXX
Closing Cash Dividends Retained Earnings XXX into Retained Earnings Cash Dividends XXX Temporary accounts such as revenues and expenses plus cash dividends must be closed at the end of each fiscal period.
