College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087


Chapter 2, Problem 4QY
Textbook Problem

R. Nelson invests his personal computer, with a fair market value of $2,500, in the business. How would this transaction be recorded?

  1. a. A debit to R. Nelson, Capital, $2,500.
  2. b. A credit to Cash, $2,500.
  3. c. A credit to Professional Fees, $2,500
  4. d. A debit to Computer, $2,500.

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Chapter 2 Solutions

College Accounting (Book Only): A Career Approach
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