J. Jackson invested $1,000 in his business in exchange for common stock. Show how to use T-accounts to record this transaction by selecting the correct answer below.Multiple choice question.Credit Cash; debit Common stockDebit Investments; credit Cash.Debit Cash; credit Common stockDebit Cash; credit Revenu

L. Lyons started a business and invested $4,000 in exchange for common stock. Illustrate how to record the transaction in the T-accounts by completing the following sentence. The Cash account would be (debited/credited) on the (left/right) side of the T-account and the Common stock account would be (debited/credited) on the (left/right) side of the T-account.

A company issues 1 million shares of common stock with a par value of $0.11 for $15.90 a share. The entry to record this transaction includes a debit to Cash for:Multiple Choice$110,000 and a credit to Common Stock for $110,000.$15,900,000 and a credit to Common Stock for $15,900,000.$15,900,000, a credit to Common Stock for $110,000, and a credit to Additional Paid-in Capital for $15,790,000.$110,000, a debit to Capital Receivable for $15,790,000, a credit to Common Stock for $110,000, and a credit to Additional Paid-in Capital for $15,790,000.

Jackson Brothers decided to create a petty cash fund. They estimated that $200 would be needed in the fund. Demonstrate the correct journal entry to create the account by choosing the correct action from those below.Multiple choice question.Cash is debited for $200; Petty Cash is credited for $200.Petty Cash is debited for $200; Cash is credited for $200.Miscellaneous Expense is debited for $200; Cash is credited for $200.Petty Cash is credited for $200; Miscellaneous Expense is debited for $200.

QUESTION 3: FINANCIAL LITERACY: ANALYSIS OF TRANSACTIONS (12) Analyse and record the following transactions in the table provided. Example: Received a cheque from J. Houston for monthly rent, R600 NO General ledger: Account Amount = Owner's equity + Liabilities Debit Credit e.g. Bank Rent Income R600 + 600 0 Transactions: 1. Owner, C Chaba, contributed R 5 000 into his business bank account 2. Credit sales of merchandise to J. James for R900. (Mark up 50%) QUESTION 3: TRANSACTION ANALYSIS NO General ledger: Account Assets Owner's equity Liability Debit Credit E.g. Bank Rent Income + 600 + 600 0 1. 2. [12]

Which of the following is the correct journal entry when the owner invested $30,000 cash in the business:a.Debit cash $30,000, credit capital $30,000b.Debit capital $30,000, credit revenue $30,000c.No entryd.Debit cash $30,000, credit cash $30,000