20th Century Bookkeeping And Accounting a Treatise On Modern Bookkeeping, Accounting, And Business Customs, As Illustrated in the "business Transactions" Which Accompany This Work ... for Use in All Schools That Teach Bookkeeping And Accounting

Cover 20th Century Bookkeeping And Accounting a Treatise On Modern Bookkeeping, Accounting, And Business Customs, As Illustrated in the "business Transactions" Which Accompany This Work ... for Use in All Schools That Teach Bookkeeping And Accounting
20th Century Bookkeeping And Accounting a Treatise On Modern Bookkeeping, Accounting, And Business Customs, As Illustrated in the "business Transactions" Which Accompany This Work ... for Use in All Schools That Teach Bookkeeping And Accounting
James William Baker
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been issued as explained in § 253. .
'"II 2. Entry when Stock is Sold on Installment. When sfock is sold on the installment plan and not issued until the amount of the subscription is paid in full, Cash is debited and a Subscribers to Capital Stock account is credited for partial payments of the stock. An account is opened in a special ledger with each stock- holder; this account is charged with the par value of the stock and credited with the payments. The Subscribers to Capital Stock account
...is a controlling account for the accounts in this special ledger. When all the subscriptions have been paid the stock is issued. At that time the Subscribers to Capital Stock account is debited and the Unissued Capital Stock account credited.
ACCOUNTS PECULIAR TO A CORPORATION.
§ 241. The Accounts for a Corporation, with the exception of the capital accounts, are the same as those for a partnership if the nature of the business is the same. Capital Stock, common and preferred, Surplus, Dividend, and Treasury Stock are the usual accounts that relate to the capital of a corporation.


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