Business, 13.01.2021 18:10 shakalalewis7255

When cash is received from a stockholder in exchange for common stock, the transaction is recorded by debiting Cash and crediting a(n): Multiple Choice

Answers

Equity account

Explanation:

In the case when the cash is received in exchange of the common stock so here the cash is debited and credited the common stock i.e. equity account

The journal entry is

Cash Dr

To Common stock

(Being exchange is recorded)

here cash is debited as it increased the assets and credited the common stock as it also increased the equity

Answer from: Quest

answer; complain or request hazard correction from your employer;

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the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

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When cash is received from a stockholder in exchange for common stock, the transaction is recorded b...