**Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal?**- **a.** ``` Joshua Scott, Capital 40,000 Cash 40,000 Invested cash in business. ```- **b.** ``` Cash 40,000 Joshua Scott, Loan 40,000 Invested cash in business. ```- **c.** *(Selected Option)* ``` Cash 40,000 Joshua Scott, Capital 40,000 Invested cash in business. ```- **d.** ``` Joshua Scott, Loan 40,000 Cash 40,000 Invested cash in business. ```

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Description: **Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal?**- **a.** ``` Joshua Scott, Capital 40,000 Cash 40,000 Invested cash in business. ```- **b.**

Journal entries are the basic method for recognizing the financial transaction and these journal…

Business

Accounting

Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal? Oa. Joshua Scott, Capital 40,000 Cash 40,000 Invested cash in business. Ob. Cash Joshua Scott, Loan 40,000 Invested cash in business. Joshua Scott, Capital 40,000 40,000 Oc. Cash Od. Joshua Scott, Loan Cash Invested cash in business. Invested cash in business. 40,000 40,000 40,000

Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal? Oa. Joshua Scott, Capital 40,000 Cash 40,000 Invested cash in business. Ob. Cash Joshua Scott, Loan 40,000 Invested cash in business. Joshua Scott, Capital 40,000 40,000 Oc. Cash Od. Joshua Scott, Loan Cash Invested cash in business. Invested cash in business. 40,000 40,000 40,000

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter4: Corporations: Organization And Capital Structure

Section: Chapter Questions

Problem 2BCRQ

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

**Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal?**

- **a.**
```
Joshua Scott, Capital 40,000
Cash 40,000
Invested cash in business.
```

- **b.**
```
Cash 40,000
Joshua Scott, Loan 40,000
Invested cash in business.
```

- **c.** *(Selected Option)*
```
Cash 40,000
Joshua Scott, Capital 40,000
Invested cash in business.
```

- **d.**
```
Joshua Scott, Loan 40,000
Cash 40,000
Invested cash in business.
```

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