Classify the following items as investment by owner (I), owners drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owners equity.(1) Drawings (2) Rent Revenue (3) Advertising Expense(4) Owner puts personal assets into the business

Chapter 1, DO IT! Review #2
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.
(1) Drawings
(2) Rent Revenue
(3) Advertising Expense
(4) Owner puts personal assets into the business


This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!
Related Book For answer-question

Accounting Principles

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

ISBN: 978-0470533475