Identify Which of the Following Opening Adjusting Entries Should Be

question 13

Multiple Choice

Identify which of the following opening adjusting entries should be used when setting up in QuickBooks an existing company with opening balances:

• A)Debit: Capital Stock,Credit: Opening Balance Equity
• B)Debit: Opening Balance Equity,Credit: Capital Stock
• C)Debit: Accounts Receivable,Credit: Capital Stock
• D)Debit: Accounts Payable,Credit: Opening Balance Equity

---

Definitions:

Emails

Electronic messages sent over a network, used for personal, academic, or business communication.

Business

Commercial, professional, or industrial activities engaged in by an individual or organization for the purpose of earning a profit.

Informative Messages

Communications designed to convey specific information, details, or data with clarity and precision to the intended audience.

Positive Messages

Messages that convey optimistic and encouraging information, fostering a favorable perception.