Received $45,000 cash from Alex Xu as an additional investment in exchange for common stock. Which of the following isthe journal entry the company should record?а.Cash 45,000Common Stock 45,000b.Common Stock 45,000Cash 45,000с.Cash 45,000Dividends 45,000d.Common Stock 45,000Sales Revenue 45,000

The journal entries are prepared to keep the record of day to day transactions of the business.

Received $45,000 cash from Alex Xu as an additional investment in exchange for common stock. Which of the following the journal entry the company should record? a. Cash 45,000 Common Stock 45,000 b. Common Stock 45,000 Cash 45,000 с. Cash 45,000 Dividends 45,000 d. Common Stock 45,000

Received $45,000 cash from Alex Xu as an additional investment in exchange for common stock. Which of the following the journal entry the company should record? a. Cash 45,000 Common Stock 45,000 b. Common Stock 45,000 Cash 45,000 с. Cash 45,000 Dividends 45,000 d. Common Stock 45,000

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 2.5C

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Question

Received $45,000 cash from Alex Xu as an additional investment in exchange for common stock. Which of the following is
the journal entry the company should record?
а.
Cash 45,000
Common Stock 45,000
b.
Common Stock 45,000
Cash 45,000
с.
Cash 45,000
Dividends 45,000
d.
Common Stock 45,000
Sales Revenue 45,000

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