T. Andrews contributed $14,000 in to the T & B Partnership. The journal entry to record the transaction for the partnership is:
A) Debit Cash $14,000; credit T & B Partnership, Capital $14,000.
B) Debit Cash $14,000; credit T. Andrews, Capital $14,000.
C) Debit T & B Partnership $14,000; credit T. Andrews, Capital $14,000.
D) Debit T. Andrews, Capital $14,000; credit T & B Partnership, Capital $14,000.
E) Debit Cash $14,000; credit Common Stock $14,000.
B) Debit Cash $14,000; credit T. Andrews, Capital $14,000.
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A company is expected to have a value of $142,857 at the start of next period and investors require a 14 percent return on equity capital. Using the assumptions of the price-earnings ratio, what would be the company's earnings for the current year?
a. $20,000 b. $14,286 c. $2,800 d. $12,500
Suppose Lufthansa receives the following indirect quotes in the currency markets of New York. They are €0.92-3/U.S.$. Given the quotes, there may or may not be arbitrage opportunities if you were a currency trader in Paris
What range of £/€ bid and ask quotes would motivate you to arbitrage the currencies? Explain.
The private insurance system and the Social Security system are both "fully-funded."
Indicate whether the statement is true or false
The auditor is most likely to verify accrued commissions payable in conjunction with the
A. Sales cutoff review. B. Verification of employees. C. Review of post balance sheet date disbursements. D. Examination of trade accounts payable.