Question
Jack n Jill contributed $60,000 in cash and some land worth $120,000 to open a new business, JJ, Inc. Which of the following would NOT
Jack n Jill contributed $60,000 in cash and some land worth $120,000 to open a new business, JJ, Inc. Which of the following would NOT be a part of the general journal entry to record this transaction?
a. Credit to Common Stock for $180,000
b. Debit to Cash for $60,000
c. Credit to Assets for $180,000
d. Debit to Land for $120,000
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College Accounting Chapters 1-15
Authors: James A Heintz, Robert W Parry
19th Edition
0324376162, 978-0324376166
