Mary Martin, the Owner of Martin Consulting, Inc $\begin{array} { | c | r | r | } \hline \text { Cash } & 40,000 & \\\hline \text { Common Stock } & & 40,000 \\\hline\end{array}$

question 62

Multiple Choice

Mary Martin, the owner of Martin Consulting, Inc., started the business by investing $40,000 cash. Identify the general journal entry below that Martin Consulting, Inc. will make to record the transaction.

• A) \(\begin{array} { | c | r | r | }
• \hline \text { Cash } & 40,000 & \\
• \hline \text { Common Stock } & & 40,000 \\
• \hline
• \end{array}\)
• B) \(\begin{array} { | c | r | r | }
• \hline \text { Commen Stock } & 40,000 & \\
• \hline \text { Cash } & & 40,000 \\
• \hline
• \end{array}\)
• C) \(\begin{array} { | c | r | r | }
• \hline \text { Investments } & 40,000 & \\
• \hline \text { Cash } & & 40,000 \\
• \hline
• \end{array}\)
• D) \(\begin{array} { | c | r | r | }
• \hline \text { Investments } & 40,000 & \\
• \hline \text { Commrnon Stock } & & 40,000 \\
• \hline
• \end{array}\)
• E) \(\begin{array} { | c | r | r | }
• \hline \text { Cash } & 40,000 & \\
• \hline \text { Increased Equity } & & 40,000 \\
• \hline
• \end{array}\)

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Definitions:

Anticipate

To look forward to or expect a future event or outcome, often making preparations in advance.

Convention Centre

A large facility used for hosting conferences, conventions, trade shows, and other large events, offering ample space and amenities to accommodate attendees.

Motives

Internal states or desires that energize and direct behavior towards specific goals.

Expectations

Beliefs or anticipations about the way events, behaviors, or things should be in the future.