What journal entry is recorded as a result of issuing stock to investors for cash?
a. A credit to Cash and a debit to Retained Earnings
b. A debit to Common Stock and a credit to Cash
c. A debit to Cash and a credit to Retained Earnings
d. A debit to Cash and a credit to Common Stock
Answer: D
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Accounting 2000 Chapter 3
- Which of the following is the correct sequence of events?
- What type of account is unearned revenue?
- Which of the following is not a part of a complete journal entry?
- Accounts with normal credit balances include
- Accounts with normal debit balances include
- Payment of a dividend
- Receipt of an unearned revenue
- If an expense is paid with cash
- During 2017, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders' equity
- The effect on the basic accounting equation of performing services for cash are to
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