Geraldine Parker, the Owner of Gi Gi's Dance Studio, Started

question 176

Short Answer

Geraldine Parker, the owner of Gi Gi's Dance Studio, started the business by investing $10,000 cash and donating a building worth $20,000. Identify the general journal entry below that Gi Gi's will make to record the transaction.
$$\begin{array}{l}\text { A) }\\\begin{array} { | l | r | r | } \hline \text { Cash } & 10,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}\end{array}$$
B)
$\begin{array}{|l|r|r|}\hline \text { Cash \& Building } & 30,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}$
C)
$\begin{array}{|l|r|r|}\hline \text { Owner's Investments } & 30,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}$
D)
$\begin{array}{|l|r|r|}\hline \text { Cash } & 10,000 & \\\hline \text { Building } & 20,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}$
E)
$\begin{array}{|l|r|r|}\hline \text { G. Parker, Capital } & 30,000 & \\\hline \text { Cash } & & 10,000 \\\hline \text { Building } & & 20,000 \\\hline\end{array}$

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