Answer:
Option B. Debit: Opening Balance Equity, Credit: Capital Stock
Explanation:
When we are shifting our traditional record keeping work to QuickBooks, the opening entry are the increase in all the balance sheet accounts and this is adjusted against the opening balance equity account. So this means that Capital Stock must be increased which must be credited, Accounts receivables must be debited, cash, bank, etc are adjusted against the opening balance equity.
So the correct double entry would be:
Dr Opening Balance Equity XX
Cr Capital Stock XX
So we can see that the capital stock is adjusted against opening balance equity whereas the option D is incorrect because accounts payables are increased which results in debit entry of opening balance equity.