Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. matthew martin, the owner of innovation consulting

Matthew Martin, the owner of Innovation Consulting, started the business by investing $40,000 cash. Identify...

50.1K

Verified Solution

Question

Accounting

Matthew Martin, the owner of Innovation Consulting, started the business by investing $40,000 cash. Identify the general journal entry below that Innovation Consulting will make to record the transaction.

Question 25 options:

A)

Account Title Debit Credit
Cash 40,000
M. Martin, Capital 40,000

B)

Account Title Debit Credit
M. Martin, Capital 40,000
Cash 40,000

C)

Account Title Debit Credit
Accounts Receivable 40,000
Cash 40,000

D)

Account Title Debit Credit
Investments 40,000
M. Martin, Capital 40,000

E)

Account Title Debit Credit
Cash 40,000
Note Payable 40,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How do you understand efficient market hypothesis(EMH), and why does it important?

Finance
Q

What does it mean for a relation is a partial order relation?

Advance Math
Q

A comprehensive analysis of how marketing analytics allows businesses to generate data-driven marketing and compete more effectively...

Operations Management
Q

explain why bacterial mismatch repair is only effective on mutations that occur during the replication process.

Biology
Q

I need to provide proof that these statements are FALSE. But I don't always understand why they...

Medical Sciences
Q

Why is the Krebs cycle so important if it only produces 2 ATP molecules?a) It...

Biology
Q

How many tangent lines can you draw from point A to a given circle B...

Geometry
Q

Fill in the blank Paired sample data may include one or more points that strongly...

Statistics
Q

You are the auditor of Pegasus Limited (Pegasus), a resources mining company. Pegasus owns and...

Accounting
Q

he financial statement columns of the worksheet for Booer Company as of December 31, 2015...

Accounting
Q

What is the difference between accrual earnings and cash earnings? In addition to the effect...

Accounting
Q

36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a...

Accounting