Question

Laura’s investment in a new partnership includes $1,000 in cash and $5,000 of equipment. The new partnership is assuming $500 of Laura’s accounts payable. The partnership entry should be which of the following?
A. Debit Laura’s Capital $5,500; debit Accounts Payable $500; credit Cash $1,000; credit Equipment $5,000

B. Debit Cash $1,000; debit Equipment $5,000; credit Laura’s Capital $6,000

C. Debit Cash $1,000; debit Equipment $5,000; credit Accounts Payable $500; credit Laura’s Capital $5,500

D. Debit Laura’s Investment $5,500; credit Capital $5,500

Answer 1

@TorilovesVampires

Answer 2

omg i only have 10 mins and i have 10 questions left!!

Answer 3

9 questions left!

Answer 4

ok

Answer 5

d

Answer 6

i was thinking A

Answer 7

but u sure?

Answer 8

its A im pretty sure

Answer 9

Try it and see

Answer 10

rite?

Answer 11

ok