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T Andrews Contributed $14,000 in to the T & B

Question 3

Multiple Choice

T. Andrews contributed $14,000 in to the T & B Partnership. The journal entry to record the transaction for the partnership is:


A) Debit T. Andrews, Capital $14,000; credit T & B Partnership, Capital $14,000.
B) Debit T & B Partnership $14,000; credit T. Andrews, Capital $14,000.
C) Debit Cash $14,000; credit T. Andrews, Capital $14,000.
D) Debit Cash $14,000; credit T & B Partnership, Capital $14,000.
E) Debit Cash $14,000; credit Common Stock $14,000.

Correct Answer:

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