Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $50,000 cash in exchange for common stock. Identify the general journal entry below that Innovation Consulting will make to record the transaction.

Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $50,000 cash in exchange for common stock. Identify the general journal entry below that Innovation Consulting will make to record the transaction.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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