Question

On january 1, 2016, mr. bravo formed a new corporate (bravo unlimited) by investing $12,000 cash in capital stock. prepare the general journal entry (without explanation) needed. if no entry is required then write "no entry required."

Answer 1

The general journal entry of Mr. bravo that formed a new corporate that he names it Bravo Unlimited,
On january 1, 2016
Debit Cash for 12,000 and credit capital stock for 12,000
And it will balance for the amount of 12,000 on january 1, 2016
1/1/16 Cash 12,000
Capital Stock 12,000