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
(1) Drawings
(2) Rent Revenue
(3) Advertising Expense
(4) Owner puts personal assets into the business
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Related Book For
Accounting Principles
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
ISBN: 978-0470533475