Quick Study. 4-1. Owner's Equity Effects. Classify the following items as investment by owner (I), owner's drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owner's equity by putting a check mark on the line. Increase Decrease 1. Rent Expense. 2. Drawings. 3. Service Revenue. 4. Salaries and Wages Expense. 5. Advertising Expense.
Quick Study. 4-1. Owner's Equity Effects. Classify the following items as investment by owner (I), owner's drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owner's equity by putting a check mark on the line. Increase Decrease 1. Rent Expense. 2. Drawings. 3. Service Revenue. 4. Salaries and Wages Expense. 5. Advertising Expense.
Chapter2: Introduction To Financial Statements
Section: Chapter Questions
Problem 4MC: The balance sheet lists which of the following? A. assets, liabilities, and owners equity B....
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