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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

LO4 An investment of cash by the owner will

  1. (a) increase assets and owner’s equity.
  2. (b) increase assets and liabilities.
  3. (c) increase liabilities and owner’s equity.
  4. (d) increase owner’s equity and decrease liabilities.

To determine

Write the correct option for an investment of cash by the owner.

Explanation

Record the journal entry for an investment of cash by the owner:

Accounting equation: The following is the accounting equation for the entry:

  Assets=Liabilities+Owner's Equity+(Cash)=

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