11000 cash from a bank Journal entry worksheet Record the re

$11,000 cash from a bank Journal entry worksheet Record the receipt of cash and the distribution of 1,030 shares of $1 par value common stock with a market price of $25 per share

Solution

Journal Entries :-

S. No.	Particulars	Debit($)	Credit($)
a.	Cash a/c Dr. (1030*$25)	25750
	To Common Stock a/c		1030
	To Addition Paid in Capital a/c		24720
b.	Equipment a/c Dr.	8000
	To Cash a/c		1800
	To Accounts Payable a/c		6200
c.	Cash a/c Dr.	11000
	To Bank a/c		11000
d.	Notes Receivable A/c Dr.	1000
	To Cash A/c		1000
e.	Land A/c Dr.	23000
	To Cash A/c		5000
	To Notes Payable A/c		18000