Solved

The Entry to Record an Owner Investment of $1,500 into the Business

Question 29

Multiple Choice

The entry to record an owner investment of $1,500 into the business including a $500 piece of equipment would be:  A)  Dividends 1,500 Equipment 500 Cash 1,000 B)  Cash 1,500 Dividends 1,500 C)  Cash 1,500 Service Revenue 1,000 Equipment 500 D)  Cash 1,000 Equipment 500 Common Shares 1,500 \begin{array}{lcl}\text { A) Dividends } & 1,500 & \\ \text { Equipment } & & 500 \\ \text { Cash } & & 1,000 \\ \text { B) Cash } & 1,500 & \\ \text { Dividends } & & 1,500 \\ \text { C) Cash } & 1,500 & \\ \text { Service Revenue } & & 1,000 \\ \text { Equipment } & & 500 \\ \text { D) Cash } & 1,000 & \\ \text { Equipment } & 500 & \\ \text { Common Shares } & & 1,500\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions