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1. • CommentAuthorlarissa
   • CommentTimeMar 17th 2007

    
   I have a question, I am hoping someone can help me with. It's part of an assignment and I am not sure how to do this. I need to know how to put this in a journal.
   
   "Scott Simpson purchased $65, 000 in shares for equipment"
   
   I was told to look at this question this way "Scott Simpson the person gave Scott Simpson the Corporation equipment- the corporation in reutrn gave the person shares"
   
   Any help would be greatly apprecaited.
   
   Thanks
2. • CommentAuthorcajay
   • CommentTimeApr 3rd 2007

    
   Dr. Equipment 65,000
   Cr. Common Shares 65,000
   
   His investment of the equipment will credit his capital account for 65,000.
   Basically, the corporation bought the equipment by issuing common stock.
   A = L + E
   +65,000 +65,000
   There is no change in cash flow
3. • CommentAuthorcarolj156
   • CommentTimeApr 4th 2007

    
   hi, am having a problem with accounting, i need help with a traansaction
4. • CommentAuthorAbusamak
   • CommentTimeApr 7th 2007

    
   hello, you will know the market value of shears and how many the company issued stock instead of equipment.
   suppose the company arrange with the owner of equipment to issued 1000 shares instead of his equipment and the par value of stock 3$ and the market value 6$ the entry will be:
   Dr. equipment 60000
   Cr. common stock 30000
   Cr. A.P.I.C 30000