Which of the Following Journal Entries Would Have to Be

question 63

Multiple Choice

Which of the following journal entries would have to be made to record X's purchase of Y's shares?

• A)
• \[\begin{array} { | l | l | l | }
• \hline & \text { Debit } & \text { Credit } \\
• \hline \text { Investment in } Y & \$ 100,000 & \\
• \hline \text { Cash } & & \$ 100,000 \\
• \hline
• \end{array}\]
• B)
• \[\begin{array} { | l | l | l | }
• \hline & \text { Debit } & \text { Credit } \\
• \hline \text { Investment in } Y & \$ 12,000 & \\
• \hline \text { Cash } & & \$ 12,000 \\
• \hline
• \end{array}\]
• C)
• \[\begin{array} { | l | l | l | }
• \hline & \text { Debit } & \text { Credit } \\
• \hline \text { Investment in } Y & \$ 112,000 & \\
• \hline \text { Cash } & & \$ 112,000 \\
• \hline
• \end{array}\]
• D)No entry requireD.

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