A company receives $500 of cash as an additional investment in the company by its owner, Mary Smith. The companys Cash account is increased and Mary Smith, Capital is increased.Should the $500 entry to the Cash account be a debit?

FINANCIAL ACCOUNTING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A company receives $500 of cash as an additional investment in the company by its owner, Mary Smith. The company’s Cash account is increased and Mary Smith, Capital is increased.Should the $500 entry to the Cash account be a debit?

A	yes
B	no

Explanation:

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BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

FINANCIAL ACCOUNTING