Geraldine Parker, the Owner of Gi Gi's Dance Studio, Inc $$\begin{array} { | l | r | r | } \hline \text { Cash } & 30,000 & \\\hline \text { Common Stock } & & 30,000 \\\hline \hline\end{array}$$

Multiple Choice

Geraldine Parker, the owner of Gi Gi's Dance Studio, Inc., started the business by investing $10,000 cash and donating a building worth $20,000. Identify the general journal entry below that Gi Gi's will make to record the transaction.

A) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 30,000 & \\\hline \text { Common Stock } & & 30,000 \\\hline \hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Common Stock } & 30,000 & \\\hline \text { Cash } & & 10,000 \\\hline \text { Building } & & 20,000 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 10,000 & \\\hline \text { Building } & 20,000 & \\\hline \text { Common Stock } & & 30,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Common Stock } & 30,000 & \\\hline \text { Retained Earnings } & & 30,000 \\\hline \hline\end{array}$$
E) $$\begin{array} { | l | r | r | } \hline \text { Cash \& Building } & 30,000 & \\\hline \text { Common Stock } & & 30,000 \\\hline\end{array}$$