Joshua Scott invests $40,000 into his new business.How would this transaction be entered in the journal in good form?
A) Cash 40,000
Common Stock 40,000
Issued common stock for cash.
B) Accounts Receivable 40,000
Common Stock 40,000
Issued common stock for cash.
C) Common Stock 40,000
Cash 40,000
Issued common stock for cash.
D) Loans Payable 40,000
Cash 40,000
Issued common stock for cash.

Question

Joshua Scott invests $40,000 into his new business.How would this transaction be entered in the journal in good form?
A) ​Cash 40,000
Common Stock 40,000
Issued common stock for cash.
B) ​Accounts Receivable 40,000
Common Stock 40,000
Issued common stock for cash.
C) ​Common Stock 40,000
Cash 40,000
Issued common stock for cash.
D) Loans Payable 40,000
Cash 40,000
Issued common stock for cash.

Quizplus · Accepted Answer

The Answer of Joshua Scott invests $40,000 into his new business.How would this transaction be entered in the journal in good form?
A) ​Cash 40,000
Common Stock 40,000
Issued common stock for cash.
B) ​Accounts Receivable 40,000
Common Stock 40,000
Issued common stock for cash.
C) ​Common Stock 40,000
Cash 40,000
Issued common stock for cash.
D) Loans Payable 40,000
Cash 40,000
Issued common stock for cash.

Joshua Scott Invests $40,000 into His New Business