Mary Martin, the Owner of Martin Consulting, Started the Business

question 148

Short Answer

Mary Martin, the owner of Martin Consulting, started the business by investing $40,000 cash. Identify the general journal entry below that Martin Consulting will make to record the transaction.
$$\begin{array}{l}\text { A) }\\\begin{array} { | l | r | r | } \hline \text { Investments } & 40,000 & \\\hline \text { M. Martin, Capital } & & 40,000 \\\hline\end{array}\end{array}$$
B)
$\begin{array}{|l|r|r|}\hline \text { Cash } & 40,000 & \\\hline \text { M. Martin, Capital } & & 40,000 \\\hline\end{array}$
C)
$\begin{array}{|l|r|r|}\hline \text { M. Martin, Capital } & 40,000 & \\\hline \text { Cash } & & 40,000 \\\hline\end{array}$
D)
$\begin{array}{|l|r|r|}\hline \text { Investments } & 40,000 & \\\hline \text { Cash } & & 40,000 \\\hline\end{array}$
E)
$\begin{array}{|l|r|r|}\hline \text { Cash } & 40,000 & \\\hline \text { Increased Equity } & & 40,000 \\\hline\end{array}$

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Definitions:

Popularity Contest

A competition where success is determined by the level of support or approval from the general public or a specific group of people.

Bandwagon

A phenomenon where the popularity or widespread acceptance of something encourages more people to adopt it, often regardless of their original opinion.

Commercialism

The emphasis on the maximization of profit within businesses and the promotion of the consumption of goods and services.

Media Intelligence

The process of collecting and analyzing large volumes of data from media sources to inform strategic decisions.