Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

The business owner used $25000 from their personal savings account to but common stock in their company. what would be the journal entry?
cash debit cash 25000?
common stock credit common stock 25000?

Sagot :

ayokenny2001

The accounting entry is to Credit Cash for 25000 and Debit Common Stock for 25,000

What is journal entry?

Journal entry shows how a business financial transactions are being recorded.

Typically, when cash is withdrawn from a business or personal account, the accounting entry is to credit the cash account.

Hence, the accounting entry is to Credit Cash for 25,000 and Debit Common Stock for 25.000.

Learn more about journal entry here : https://brainly.com/question/14279491

#SPJ1

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.