Based on the fact that the owner contributed R80,000 as capital contribution, the journal entry is:
Date Account title Debit Credit
XX-XX-XXXX Cash R80,000
Capital - Ms. Rose R80,000
When a capital contribution is made by the owner of a company or by the owners of the company, the value of the amount or asset donated will be credited to the Capital account.
The cash account will be debited if it was cash that was introduced to the company like Ms. Rose Petals did.
Rest of the question:
Prepare the journal entry to record the capital contribution of Ms. Rose Petals.
Find out more on recording capital at https://brainly.com/question/22851526
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