Harbor Pty Ltd has just become incorporated, with shareholders investing $750,000 in cash.
What are the journal entries in the accounting information systems of Harbor Pty Ltd?

Question

Harbor Pty Ltd has just become incorporated, with shareholders investing $750,000 in cash. What are the journal entries in the accounting information systems of Harbor Pty Ltd?

Accepted Answer

DR             Cash                      $750,000 
          CR Shareholders' Equity                         $750,000

Answer

DR             Cash                                       $750,000 
          CR          Loans payable                                     $750,000

Answer

DR             Cash                      $750,000 
          CR          Sales revenue                          $750,000

Answer

DR             Shareholders' equity                      $750,000 
          CR          Loans payable                                         $750,000

Crowdly

Harbor Pty Ltd has just become incorporated, with shareholders investing $750,00...

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