Which of the following describes the receipt of $5,000 from the issuance of common stock?
A) No entry
B) Debit shareholders' equity and credit assets for $5,000
C) Debit assets and credit shareholders' equity for $5,000
D) Debit liabilities and credit assets for $5,000
Correct Answer:
Verified
Q4: The declaration of dividends
A)increases with a credit.
B)decreases
Q17: On May 31, 2009, the physical count
Q18: Which of the following changes describes the
Q19: Which one of the following changes describes
Q20: Liabilities are $2,000, retained earnings are $1,000,
Q23: Which of the following changes describes the
Q25: Favre Company paid for insurance in advance.
Q25: Marks Corp. purchased supplies at a cost
Q37: Which of the following debits and credits
Q48: When an adjusting entry that recognizes accrued
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents