Question
Richards Hospital was incorporated on August 1. The initial capital was raised by issuing $2,000,000 of stock. The appropriate journal entry for this transaction is:
Richards Hospital was incorporated on August 1. The initial capital was raised by issuing $2,000,000 of stock. The appropriate journal entry for this transaction is:
A. Debit Cash/Credit Revenue.
B. Debit Capital Stock/Credit Revenue.
C. Debit Capital Stock/Credit Cash.
D. Debit Cash/Credit Capital Stock.
E. None of these.
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
