Which of the following journal entries would be recorded if a corporation issued common stock and received $3,000? O A. Common Stock 3,000 Cash 3,000 O B. Cash 3,000 Common Stock 3,000 OC. Cash 3,000 Service Revenue 3,000 O D. Cash 3,000 Unearned Revenue 3,000
Which of the following journal entries would be recorded if a corporation issued common stock and received $3,000? O A. Common Stock 3,000 Cash 3,000 O B. Cash 3,000 Common Stock 3,000 OC. Cash 3,000 Service Revenue 3,000 O D. Cash 3,000 Unearned Revenue 3,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer with reason

Transcribed Image Text:Which of the foliowing journal entries would be recorded if a corporation issued common stock and received $3.000?
O A. Common Stock
3,000
3,000
Cash
O B. Cash
3,000
3,000
Common Stock
Oc. Cash
3,000
3,000
Service Revenue
3,000
O D. Cash
3,000
Unearned Revenue
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education