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Geraldine Parker, the Owner of Gi Gi's Dance Studio, Started  Cash 10,000 G. Parker, Capital 30,000\begin{array} { | l | r | r | } \hline \text { Cash } & 10,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}

Question 128

Multiple Choice

Geraldine Parker, the owner of Gi Gi's Dance Studio, started the business by investing $10,000 cash and donating a building worth $20,000. Identify the general journal entry below that Gi Gi's will make to record the transaction.


A)  Cash 10,000 G. Parker, Capital 30,000\begin{array} { | l | r | r | } \hline \text { Cash } & 10,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}
B)  Cash & Building 30,000 G. Parker, Capital 30,000\begin{array} { | l | r | r | } \hline \text { Cash \& Building } & 30,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}
C)  Owner’s Investments 30,000 G. Parker, Capital 30,000\begin{array} { | l | r | l | } \hline \text { Owner's Investments } & 30,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}
D)  Cash 10,000 Building 20,000 G. Parker, Capital 30,000\begin{array} { | l | r | l | } \hline \text { Cash } & 10,000 & \\\hline \text { Building } & 20,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}
E)  G. Parker, Capital 30,000 Cash 10,000 Building 20,000\begin{array} { | l | r | r | } \hline \text { G. Parker, Capital } & 30,000 & \\\hline \text { Cash } & & 10,000 \\\hline \text { Building } & & 20,000 \\\hline\end{array}

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