Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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? a. Cash b. Common Stock Common Stock d. Sales Revenue C. Cash Dividends Common Stock Cash 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000
image text in transcribed
Received $45,000 cash from Alex Xu as an additional investment in exchange for common stock. Which of the foliowing is the joumal entry the company should record? a. Cash Common Stock b. Common Stock Sales Revenue c. Cash Dividends d. Common Stock cash 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions