USA How to account buying common stock in Cash Basis Accounting?

[thezone]

While using Cash Basis Accounting, how to treat buying common stocks from Net profit?

For example: if a single member LLC business has $ 1,000 profit, can you buy $1,000 worth of Google stock. How is this purchase recorded? since it is cash out, does it become expense?

Thanks

 

[kirby]

Dr stock investment $1,000.00 (this is an asset account)
Cr cash ($1,000.00)