Geraldine Parker, the Owner of Gi Gi's Dance Studio, Started $$\begin{array} { | l | r | r | } \hline \text { Cash } & 10,000 & \\\hline \text { G. Parker, Capital } & & 30,000 \\\hline\end{array}$$

question 220

Multiple Choice

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

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 10,000 & \\
• \hline \text { G. Parker, Capital } & & 30,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Cash \& Building } & 30,000 & \\
• \hline \text { G. Parker, Capital } & & 30,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | l | }
• \hline \text { Owner's Investments } & 30,000 & \\
• \hline \text { G. Parker, Capital } & & 30,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | l | }
• \hline \text { Cash } & 10,000 & \\
• \hline \text { Building } & 20,000 & \\
• \hline \text { G. Parker, Capital } & & 30,000 \\
• \hline
• \end{array}\]
• E) \[\begin{array} { | l | r | r | }
• \hline \text { G. Parker, Capital } & 30,000 & \\
• \hline \text { Cash } & & 10,000 \\
• \hline \text { Building } & & 20,000 \\
• \hline
• \end{array}\]

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