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7 January, 03:53

XYZ Corporation receives $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a: (A) Credit to common stock. Correct (B) Debit to investments. (C) Credit to retained earnings. (D) Credit to revenue.

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  1. 7 January, 06:03
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    The amount received from investors for issuing them shares should be credited to common stock account and also credited to revenue account.

    Explanation:

    The amount is credited to revenue account because it is a receipt to the company. The amount is also credited to common stock account.
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Home » Business » XYZ Corporation receives $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a: (A) Credit to common stock. Correct (B) Debit to investments. (C) Credit to retained earnings.
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