Indicate whether each of the following types of transactions will either (a) increase owner’s equity or (b) decrease owner’s equity:1. expenses2. owner’s investments3. owner’s withdrawals4. revenues

Indicate whether each of the following types of transactions will either (a) increase owner’s equity or (b) decrease owner’s equity:1. expenses2. owner’s investments3. owner’s withdrawals4. revenues

Name: Indicate whether each of the following types of transactions will eith
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Indicate whether each of the following types of transactions will either (a) increase owner’s equity or (b) decrease owner’s equity:1. expenses2. owner’s investments3. owner’s withdrawals4. revenues

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 4DQ: Describe two ways to increase owners equity and two ways to decrease owners equity

See similar textbooks

Similar questions

An increase to which of these accounts will increase owners equity? (a) Accounts Payable (b) Drawing (c) Client Fees (d) Rent Expense
Owner's equity can be increased through _____. a. withdrawals by the owner b. purchase of assets by cash c. investments by the owner d. expenses exceeding revenues
What two transaction types decrease owner's equity? liabilities and revenue expenses and withdrawals expenses and revenue withdrawals and investments
What are two transaction types that increase owner's equity? expenses and revenue O withdrawals and investments O investments and revenue expenses and withdrawals
Owner's equity Select one: a. The resulting amount when total liabilities are subtracted from total assets b. When total liabilities are added to total assets c. None of Them d. The resulting amount when total revenue are subtracted from total cost of sales
Which of the following account is considered as non-item of Owner Equity? Prepaid insurance. a. Retain earning. b. Owner Capital. С. All of above. d.
| Owner's equity Select one: O a. The resulting amount when total revenue are subtracted from total cost of sales O b. When total liabilities are added to total assets c. None of Them d. The resulting amount when total liabilities are subtracted from total assets
Owner's equity can be increased through withdrawals by the owner O b. investments by the owner O c. purchase of assets by cash O d. expenses exceeding revenues
Multiple choice: 1. Transactions affecting owner's equity include: A. owner withdrawals and owner investments B. purchases of assets for cash C. purchases of assets on account D. only owner investments 2. A cash investment into the business by the owner would: A. increase liabilities and increase owner's equity B. increase total assets and decrease owner’s equity C. increase owner’s equity and increase total assets D. increase total assets and decrease liabilities
Which of the given series have the same effect on Owners' Equity? Select one: a. Owner's Drawings & Expenses b. Assets & Liabilities c. Owner's Drawings & Revenues d. Liabilities & Revenues
All of the following increase owner’s equity except for which one?A. gainsB. investments by ownersC. revenuesD. acquisitions of assets by incurring liabilities
10.Which of the following accounts would be increased with a debit? a. Withdrawals account. b. Legal fees earned c. Rent Payable d. Owner’s capital account