FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Victor Cruz contributed $85,000 in cash and land worth $160,000 to open a new business, VC Consulting. Which of the following general journal entries

image text in transcribed

2. Victor Cruz contributed $85,000 in cash and land worth $160,000 to open a new business, VC Consulting. Which of the following general journal entries will VC Consulting make to record this transaction? Multiple Choice 3 asan Debit Accounts Payable $245,000: Credit Cruz, Capital, $245.000 Creo Cash and Land, $245,000. Credit Cruz, Capital $245.000 Den 385.000 Debit land $160.000 Credit Cruz. Capital $245.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Produktivitat Von Dienstleistungen

Produktivitat Von Dienstleistungen

Authors: Klaus Moller, Wolfgang Schultze

3rd Edition

3658040858, 9783658040857

More Books

Students also viewed these Accounting questions

Question

★★★★★
What does the real options model recognize that the NPV and IRR models do not?

Answered: 1 week ago

Question

★★★★★
Encourage the group to play together; do something fun.

Answered: 1 week ago

Question

★★★★★
Define psychology and cite its four major goals.

Answered: 1 week ago

Question

★★★★★
Allentown Services, Inc., is preparing adjusting entries for the year ending December 31, 2009. The following data are available: a. Interest is owed at December 31, 2009, on a six-month, 9 percent...

Answered: 1 week ago

Question

★★★★★
If the U.S. dollar appreciates against foreign currencies, which statement is TRUE? AO U.S. exports should increase and any trade deficit should narrow U.S. exports should increase and any trade...

Answered: 1 week ago

Question

★★★★★
Can stocks of raw materials delay movement between one stage in the process and the next?. Select one: O 1. Yes O 2. No Next page

Answered: 1 week ago

Question

★★★★★
Foellinger Inc. has a WACC of 12.0%. Assuming that a DCF uses a midyear convention, what is the discount factor in year 4?

Answered: 1 week ago

Question

★★★★★
Based on porter's five forces - The threat of substitutes The more tech-oriented companies are, the fewer people have to work - How does tech threaten to replace/act as a substitute for human...

Answered: 1 week ago

Question

★★★★★
1. Prepare for the appraisals Begin by reviewing and printing out the previously completed Performance Appraisal for Terry, Giselle and Prem. Review the Team Performance Appraisals completed by your...

Answered: 1 week ago

Question

★★★★★
On January 1st, 2017, Sands Company purchased a construction lathe at a cost of $625,000. It was estimated that the machine would have a useful life of 25 years, and a residual value at the end of...

Answered: 1 week ago

Question

★★★★★
MTV's network has become a symbol of globalization. Established in 1981, the US based music TV network has been expanding outside of its North American base since 1987; when it first opened MTV...

Answered: 1 week ago

Question

★★★★★
=+Identify the key categories of metrics (basic, advanced, channel, and behavioral)

Answered: 1 week ago

Question

★★★★★
=+What is the payment model? Are the tools free? Does the platform have a monthly fee? What different plans does it offer?

Answered: 1 week ago

Question

★★★★★
=+based on location, platform, and key word analysis. Depending on what you are willing to invest in and use, it is important to note where each tool lands in your social media budget and overview.

Answered: 1 week ago

Previous Question Next Question