Answer to Question #105451 in Accounting for Siyabonga

Question

Mr B. Smith (the owner of Cooper Traders) made a capital contribution of R100 000 in his business.

Identify the correct journal entry to record this transaction.

Select one:
a. Debit Cash account R100 000
Credit Investments account R100 000

b. Credit Cash account R100 000
Debit Investment in business account R100 000

c. Credit Cash account R100 000
Debit Owner's account R100 000

d. Debit Cash account R100 000
Credit Capital account R100 000

Answer 1

d