1. When the owner invested cash on the business, what account/s increase/s? A. assets and owner's equity B. assets only C. liabilities and assets D. owner's equity only
1. When the owner invested cash on the business, what account/s increase/s? A. assets and owner's equity B. assets only C. liabilities and assets D. owner's equity only
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 5DQ: What is the effect on the fundamental accounting equation if supplies are purchased on account? How...
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41. When the owner invested cash on the business, what account/s increase/s?
A. assets and owner's equity
B. assets only
C. liabilities and assets
D. owner's equity only
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