Xyz corporation receives $100,000 from investors for issuing them shares of its stock. xyz's journal entry to record this transaction would include a:________

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12-09-2022
Business

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Xyz corporation receives $100,000 from investors for issuing them shares of its stock. xyz's journal entry to record this transaction would include a:________

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rafikiedu09 rafikiedu09 · Answer 1 · 2022-09-16T00:57:34+02:00

Investors get $100,000 from XYZ business in exchange for shares of its stock. A credit to the capital stock would be a part of the journal entry made by XYZ to document this transaction.

A capital account debit indicates that the business owes its owners less money (i.e., reduces the business's capital), while a capital account credit indicates that the business owes its owners more money (i.e., increases the business's capital).
The accounting should record a credit to the capital stock account since the credit account for the capital stock has increased. Therefore, credit is created as capital stock grows. The number of common and preferred shares that a corporation is permitted to issue is shown on the balance sheet under shareholders' equity as capital stock.
The amount of capital stock determines the maximum number of shares that a corporation may ever have outstanding.

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