A corporation issued 180 shares of its $5 par value common stock in payment of a $2,600 charge from its accountant for assistance in filing its charter with the state. the entry to record this transaction will include A $1,700 credit to Paid-in Capital in Excess of Par Value, Common Stock.
A security representing ownership in a corporation is common stock. Holders of the common stock vote on corporate policies and elect the board of directors. Long term, this type of equity ownership typically produces higher rates of return.
Common stock allows investors to participate in a company's long-term success, making it an excellent long-term investment. In general, common stock entitles holders to vote for corporate directors as well as policy changes and stock splits.
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