Classify the following items as investment by owner (I), owners drawings (D), revenues (R), or expenses (E).

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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.

a. Drawings.

b. Rent Revenue.

c. Advertising Expense.

d. Owner puts personal assets into the business.

e. Service Revenue.

f. Rent Expense.

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Related Book For  answer-question

College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

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