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.
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Transaction
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|
Cash Asset
|
+
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Noncash Assets
|
=
|
Liabilities
|
+
|
Contributed Capital
|
+
|
Earned Capital
|
|
|
|
Invested cash for stock.
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XXXX
|
|
XXXX
|
|
XXXX
|
|
XXXX
|
|
XXXX
|
|