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Common Shares

The name for a corporation's shares when only one class of share capital is issued. Common shares usually are eligible to receive dividends but have no voting rights.

When share are issued, a share specifying the number of shares represented, is prepared for each shareholder..

For example, 1,000 common shares were issued at no-par for cash $10.20 per share would be recorded as follows:

December 31st, 2009

Account Name

Dr. Cash   $10,200  
Cr. Common Shares   $10,200
To record the issuance of 1000 common no par value shares @ $10.20 each.

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