The entry to record the issuance of 1,000 shares of $4 par-value common stock for $14 a share consists of a debit to Cash for $14,000 and:

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When common stock is issued for a price higher than its par value, the excess amount is credited to Paid-in Capital in Excess of Par Value - Common Stock account. In this case, the total amount received for the 1,000 share issuance is $14 x 1,000 = $14,000, which is debited to Cash. The common stock has a par value of $4 x 1,000 = $4,000, which is credited to Common Stock. The remaining $10,000 ($14,000 - $4,000) represents the excess amount over par value and is credited to Paid-in Capital in Excess of Par Value - Common Stock. Thus, the entry would be:

Debit: Cash $14,000 
Credit: Common Stock $4,000 
Credit: Paid-in Capital in Excess of Par Value-Common Stock $10,000

The Entry to Record the Issuance of 1,000 Shares of $4