How to record journal entries for owner contributions of tangible goods?

What would the journal entries look like for the following transaction: The sole equity holder of XYZ-Co. contributes office supplies worth $100 to XYZ-Co. as a capital contribution. Would you just debit office supplies and credit owner's equity by $100 each? (I know this is probably a stupid question,... show more What would the journal entries look like for the following transaction:
The sole equity holder of XYZ-Co. contributes office supplies worth $100 to XYZ-Co. as a capital contribution.

Would you just debit office supplies and credit owner's equity by $100 each?

(I know this is probably a stupid question, but I've forgotten most of the accounting I learned in college in the few years since I graduated.)
Thanks!
1 answer 1