Geraldine Parker, the Sole Stockholder of Gi Gi's Dance Studio $\begin{array} { | l | r | r | } \hline \text { Cash } & 10,000 \\\hline \text { Common Stock } & & 30,000 \\\hline\end{array}$

question 226

Multiple Choice

Geraldine Parker, the sole stockholder of Gi Gi's Dance Studio, started the business by investing $10,000 cash and donating a building worth $20,000 in exchange for common stock. Identify the general journal entry below that Gi Gi's will make to record the transaction.

• A) \(\begin{array} { | l | r | r | }
• \hline \text { Cash } & 10,000 \\
• \hline \text { Common Stock } & & 30,000 \\
• \hline
• \end{array}\)
• B) \(\begin{array} { | l | r | r | }
• \hline \text { Common Stock } & 30,000 \\
• \hline \text { Cash } & & 10,000 \\
• \hline \text { Building } & & 20,000 \\
• \hline
• \end{array}\)
• C) \(\begin{array} { | l | r | r | }
• \hline \text { Cash } & 10,000 \\
• \hline \text { Building } & 20,000 & \\
• \hline \text { Common Stock } & & 30,000 \\
• \hline
• \end{array}\)
• D) \(\begin{array} { | l | r | r | }
• \hline \text { Owner' } 5 \text { Investments } & 30,000 & \\
• \hline \text { Common Stock } & & 30,000 \\
• \hline
• \end{array}\)
• E) \(\begin{array} { | l | r | r | }
• \hline \text { Cash \& Building } & 30,000 & \\
• \hline \text { Common Stock } & & 30,000 \\
• \hline
• \end{array}\)

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Definitions:

Crystallized Intelligence

Refers to the accumulation of knowledge, skills, and experience that one gains over time, often assessed through vocabulary and factual information tests.

Neurological Factors

Elements that affect the structure and function of the nervous system, influencing behavior, cognition, and emotion.

Crystallized Intelligence

The ability to use learned knowledge and experience, which typically increases or remains stable with age.

Procedural Memory

A type of long-term memory that involves the unconscious memory of skills and how to perform tasks.