Question: Why is Beginning common stock and Plus: common stock issued on the debit ( left ) side? Common stock is decreased by debits, but the

Why is Beginning common stock and Plus: common stock issued on the debit (left) side? Common stock is decreased by debits, but the Ending common stock is a positive number on the Credit side.
Why are they debits but add up to be a positive credit?
Why is Beginning common stock and Plus: common stock issued on

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1.Produce a frequency table and a pie chart for RACE. Summarize the results. 2.Produce the mode, median, mean, standard deviation, variance, range, minimum, and maximum for JAILCREDIT and AGEADMIT....

Q:

Year 1 Year 2 NOTES Income Statement 6 3,000 1,000 4,000 600 0 3 4 Service Revenue 5 Sales Revenue Total Revenue 7. Cost of Goods Sold 8 Operating Expenses 9 Depreciation Expense 10 Interest Expense...

Q:

Required Enter the missing values in the following financial statements. Assume the company started operations January 1, Year 1, and all transactions involve cash. For the Years Year 2 Year 3 Year 1...

Q:

this is year one create horizontal analysis and the following financial statements Big Picture Project Transactions Plan B 1-1 Start Up Funding Sign Note for $12,000 @ 8% Issue Stock for $51,000 1-2...

Q:

1-8, 1-9, 1-10 Mark's Consulting experienced the following transactions for Year 1, its first year of operations, and Year 2. Assume that all transactions involve the receipt or payment of cash....

Q:

Year 1: 1 Issued $10.000 of common stock for cash 2. Provided $100.000 of services on account, 3 Provided $25.000 of services and received cash 4 Collected $75.000 cash from accounts receivable. 5....

Q:

Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $15,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the...

Q:

please help me thanks!!! The trial balance of Pacilio Security Services, Incorporated as of January 1 , Year 6 . had the following normal balances. Uuring Year 6 , Pacillo Security Services...

Q:

Unadjust \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Pacilio Security Services, Incorporated } \\ \hline \multicolumn{2}{|c|}{ Statement of Changes in Stockholders' Equity } \\ \hline...

Q:

I'm interested in D answer only using the same of this method below: example of the way the answer must be solved: beginning common stock $4,000 plus: common stock issued 25,000 $29,000 Ending common...

Q:

Problem 2-42A Missing information in financial statements LO 2-8 Required Enter the missing values in the following financial statements. Assume the company started operations January 1, Year 1, and...

Q:

Multiple Choice Questions 1. PR recognizes previously unrecorded intangibles of a. $ 1,000 b. $ 5,000 c. $13,000 d. $15,000 2. PR credits capital stock in the amount of a. $40,000 b. $50,000 c....

Q:

Department G had 1,920 units 25% completed at the beginning of the period, 14,000 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following...

Q:

Which protocol uses packet switching technology? Question 1 8 options: ATM Frame Relay ISDN POTS All of the above

Q:

Can you fill only form 8582, 4562, 1040 lines 16- 37, and 1040 schedule 2 using the following information. George and Nita Amberson Accounting 2144 Practice Set #2 This second practice set is worth...

Q:

2.3 Define human resource ethics.

Q:

1 Which processes of learning/ development have you experienced? 2 What were the most effective processes for you?

Q:

9 How can training be evaluated?