Classify each of the following as owners investments (I), drawings (D), revenue (R), expenses (E), or as
Question:
Classify each of the following as owner’s investments (I), drawings (D), revenue (R), expenses (E), or as having no effect on owner’s equity (NE):
a. _______ Advertising expense
b. _______ Commission fees earned
c. _______ Cash received from the company’s owner
d. _______ Amounts paid to employees
e. _______ Services performed on account
f. _______ Utilities incurred
g. _______ Cash distributed to company owner
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E a Advertising expense R b Commission fees earned I ...View the full answer
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Related Book For 
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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