Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on april 1, 2020 susan jones invests $70,000 cash

On April 1, 2020 Susan Jones invests $70,000 cash in a new consulting Company called...

80.2K

Verified Solution

Question

Accounting

image
On April 1, 2020 Susan Jones invests $70,000 cash in a new consulting Company called Jones Consulting. The journal entry to record this transaction is: Debit Cash and credit Due to Owner $70,000 Debit Cash and credit Revenue $70,000 Debit Cash and credit Common Stock $70,000 Debit Due to Owner and credit Cash $70,000

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

Small charged spheres are arranged as follows: Description Magnitude of Charge x (cm) y (cm) Plastic sphere that was rubbed...

Physics
Q

When your textbook uses the definition A noncellular particle containing a genome that can replicate...

Biology
Q

3 Find the surface area of the rectangular polyhedron below SA 7 cm cm 3...

Geometry
Q

Destion 3 The plot below represents the function f z 343 ka 5 40 F...

Basic Math
Q

Let P x x studies Calculus Q x x is a Computer Science major R...

Basic Math
Q

Earnings per Share, Price-Earnings Ratio, Dividend Yield The following information was taken from...

Accounting
Q

Depreciation Methods or 970,000 cuttinges affer which it could be sold for 55.000 b. Assume...

Accounting
Q

Woodstock Binding has two service departments, IT (Information Technology) and HR (Human Resources), and two...

Accounting
Q

A list of accounts and their balances of ONeills Psychological Services, at its year end...

Accounting
Q

Does the Internal Revenue Code Section 162 allow a deduction of business expenses pertaining to...

Accounting
Q

Today is 1 July 2021. Joan has a portfolio which consists of two different types...

Finance
Q

assume the total market value of Firm A consists of the following securities: Common stock:...

Finance