Sandra Invests $40,000 in Her New Business by Depositing the Cash

question 133

Multiple Choice

Sandra invests $40,000 in her new business by depositing the cash in the business's bank account. Which of the following accounts will be debited?

• A)Accounts Receivable
• B)Cash
• C)Sandra, Capital
• D)Accounts Payable

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Definitions:

Cost Reconciliation Report

A document summarizing the differences between standard costs and actual costs of production.

Work In Process Inventory

An accounting term referring to the total cost of unfinished goods in production.

Costs Added

Costs added refer to the additional expenses incurred during a production process or business operation, which were not part of the initial cost estimates.

Units Transferred Out

In process costing, the total units moved from one production process or department to the next or to finished goods.