What is the entry for a donation?
The articles of incorporation authorized to issue 200,000 shares of dull shares at P100 par meaning.
For example
Jan 20 Received 1000 shares from stockholder as donation.
Jan 24 Sold adjectives the donated at 118 per share.
Answers:
I am assuming the donated shares are shares of the company? If so, the 1000 shares donated from a stockholder would be debit Treasury stock and credit paid-in-capital for 100,000. Jan 24 entry would be debit brass 118,000, credit Treasury stock 100,000, and credit paid-in-capital 18,000.
Following up on PepsiLime, treasury stock is record at cost (likely generous value) when it is received. I'm assuming in attendance is no special exception for donated treasury stock. Unless a flea market price cannot be established for the donated treasury stock, I would proceed next to the following entries using the cost method:
Jan. 20
DR Treasury Stock 118,000
CR APIC 118,000
Jan. 24
DR Cash 118,000
CR Treasury Stock 118,000
You can argue that treasury stock could be record on Jan. 20 at par appeal if no marketplace price is to hand. I assumed souk price would be similar to that on Jan. 24 since it be singular four days away. Either way, both entries affect the match sheet within one and the same channel.
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For example
Jan 20 Received 1000 shares from stockholder as donation.
Jan 24 Sold adjectives the donated at 118 per share.
Answers:
I am assuming the donated shares are shares of the company? If so, the 1000 shares donated from a stockholder would be debit Treasury stock and credit paid-in-capital for 100,000. Jan 24 entry would be debit brass 118,000, credit Treasury stock 100,000, and credit paid-in-capital 18,000.
Following up on PepsiLime, treasury stock is record at cost (likely generous value) when it is received. I'm assuming in attendance is no special exception for donated treasury stock. Unless a flea market price cannot be established for the donated treasury stock, I would proceed next to the following entries using the cost method:
Jan. 20
DR Treasury Stock 118,000
CR APIC 118,000
Jan. 24
DR Cash 118,000
CR Treasury Stock 118,000
You can argue that treasury stock could be record on Jan. 20 at par appeal if no marketplace price is to hand. I assumed souk price would be similar to that on Jan. 24 since it be singular four days away. Either way, both entries affect the match sheet within one and the same channel.