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If a person invested cash to begin the business in exchange for common stock of $10,000

Where on the balance sheet below are the costs listed? I thought it was +$10,000 (Cash Asset) and +$10,000 (Contributed Capital). Is that correct? Please be precise. My apologies that the table below isn't precisely lined up, but you get the idea.

Transaction

 

Cash Asset

+

Noncash Assets

=

Liabilities

+

Contributed Capital

+

Earned Capital

 

 

Invested cash for stock.

     XXXX

 

XXXX

 

XXXX

 

XXXX

 

XXXX

 

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M91598090

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