The accounting entries for recording 100,000 cash introduced by the owner of a business are: (a) Debit

Question:

The accounting entries for recording £100,000 cash introduced by the owner of a business are:

(a) Debit Cash account and credit Investments account

(b) Credit Cash account and debit Investment in business account

(d) Debit Cash account and credit Capital account

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

See More Books

Question Posted: Aug 26, 2023 07:27 AM

See More Questions

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
Prepare journal entries to record the following. Show how all the journal entries would be posted to ledger accounts. May The owner of a business opened the books of account with the following: bank...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
Examine the major components of a marketing plan.
A circular disk 30.0 cm in diameter is rotating at 275 rpm and then uniformly stops within 8.00 s. (a) Find its angular acceleration. (b) Find the initial linear speed of a point on its rim. (c) How...
Bags of a chemical produced by a company have impurity weights that can be represented by a normal distribution with a mean of 12.2 grams and a standard deviation of 2.8 grams. A random sample of 400...
Alcatel Companys financial statements for 2018 are shown below: a. Compute the ratios listed above for Alcatel. b. Compared to the industry: 1. How liquid is the firm? 2. Are its managers generating...
Ethyl acetate has a vapor pressure of 118.3 mm Hg at 29.5C and a normal boiling point of 77.0C. Estimate the vapor pressure at 45C using (a) The Antoine equation and constants from Table B.4: (b) The...
Write the SOP Boolean expressions for the 7 outputs. [ 3 . 5 marks ]
Remember that every cash transaction is: 1. Recorded in the Cash Book, the receipts being entered on the debit side and the payments on the credit side; 2. Posted to a ledger account, ensuring that...
Joe Cameron extracted the following balances from his books of account on 31.12.2010: Required: Assuming that the only balance he did not extract is the one from the Capital account, set out these...
Calculate the present value of the following singleamounts. Future Value $10,000 7,000 6,000 Annual Rate Interest Compounded Period Invested 1. 2. 6% Annually Semiannually Quarterly 5 years 8 years 4...
Current Attempt in Progress On April 22, 2023, Cullumber Enterprises purchased equipment for $132,000. The company expects to use the equipment for 12,000 working hours during its four-year life and...
Antonio had unexpected expenses this month and didn't have enough in his saving account to pay the rent of $900. He went to Ace Cash Express to borrow the money until his next paycheck 14 days from...
Two charged spheres are placed as shown above. The size of the sphere represents how much charge it has. Choose the position (indicated by A, B, C, or D) where there would be zero net force on an...
A coding supervisor performs an internal audit on the coding staff. The overall accuracy results are 85 percent and the expectation is 95 percent. She decides to eliminate the worst records from the...
. For the investment analysis calculations, you will need to know how to calculate before-tax cash flow for a three-year holding period, calculate equity reversion, and investment value. I would...
n = 75, p = 0.75, x = 60 Compute P(x) using the binomial probability formula. Then determine whether the normal distribution can be used as an approximation for the binomial distribution. If so,...
General Electric Capital, a division of General Electric, uses long-term debt extensively. In a recent year, GE Capital issued $11 billion in long-term debt to investors, then within days filed legal...
A single-payment note promises $67,280 at maturity. The issuer of the now exchanges it for land with a fair value of $50,000. The exchange occurs two years before the maturity date on the note. a....
Finding implicit interest rates constructing amortization schedules. Herman Company purchased a plot of land for possible future development. The land had fair value of $86,000. Berman Company gave a...
Find equivalent annual rate offend for purchase discounts. The terms of sale 2/10, net/30 mean that the buyer can take a discount of 2% from gross invoice price by paying the invoice within 10 days:...
1)Part two: A summary of the journal the individual kept during the course. keeping a journal and summarizing thoughts after class is important to the individual, how has it helped out and what...
By what means can collective bargaining agreements be enforced? Discuss the five principles that govern the arbitration of grievances under collective bargaining. What measures are utilized in...
Describe three differences between power and empowerment. Give one example of when you think a manager should use power and one example of when you think they should use empowerment.

The accounting entries for recording 100,000 cash introduced by the owner of a business are: (a) Debit

Question:

Step by Step Answer:

d Debit C...View the full answer

Financial Accounting An Introduction

Students also viewed these Business questions