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.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “XYZ Corporation receives $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
In its first 10 years a mutual fund produced an average annual return of 20.71 %. Assume that money invested in this fund continues to earn 20.71 % compounded annually. How long will it take money invested in this fund to double
Answers (1)
Which came first? modems the first e-mail Archie Netscape
Answers (1)
Harrison's Supply Co. suffered a fire loss on April 20, 2013. The company's last physical inventory was taken January 30, 2013, at which time the inventory totaled $220,000.
Answers (1)
Which firm is likely to see its profits reduced the most in a recession: an automobile producer, a manufacturer of boots and shoes, or a janitorial service? Which is likely to see its profits reduced the least? Explain.
Answers (1)
A consumer has two basic choices in making a trip: rent a car for $30.00 a day and spend two days of travel to the destination, or spend $400 for an airplane ticket and fly to the destination in two hours.
Answers (1)
New Questions in Business
Santana Industries purchased a supply of electronic components from ABC Corporation on October 1, 2020. In payment for the $5 million purchase, Santana issued a 1-year installment note to be paid in equal monthly payments at the end of each month.
Answers (1)
A machine with a cost of $138,000 and accumulated depreciation of $93,000 is sold for $54,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
Answers (1)
Barbiturates are among the most widely used depressant drugs (true or false)
Answers (1)
On January 1, 2019, Grouper Corporation granted 10,800 options to key executives. Each option allows the executive to purchase one share of Grouper's $5 par value common stock at a price of $20 per share.
Answers (1)
Which of the following is true regarding the Statement of Revenues, Expenses, and Changes in Net Position for a public college choosing to report as a special-purpose entity engaged in business-type activities only?
Answers (1)