Question
Street Kicks, LLC, a sneaker company, receives a $1Million investment from an investor. Which of the following best describes the journal entry for Street Kicks,
Street Kicks, LLC, a sneaker company, receives a $1Million investment from an investor. Which of the following best describes the journal entry for Street Kicks, LLC to record the transaction?
A. Debit Cash; Credit Loan B. Debit Cash; Credit Capital Stock C. Debit Capital Stock; Credit Cash D. Debit Capital Stock; Credit Loan E. None of the above
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
3rd Edition
0470377852, 978-0470377857
