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Author Question: Transactions affecting owner's equity include a. owner's investments and payment of liabilities b. ... (Read 100 times)

mydiamond

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on: Jul 6, 2018
Transactions affecting owner's equity include
 a. owner's investments and payment of liabilities
  b. owner's investments, owner's withdrawals, earning of revenues, and incurrence of expenses
  c. owner's investments, earning of revenues, incurrence of expenses, and collection of accounts receivable
  d. owner's withdrawals, earning of revenues, incurrence of expenses, and purchase of supplies on account

Question 2

If a county sells a capital asset with a net book value of 35,000 for 27,000, the conversion worksheet adjustment would include a
 
  a. DEBIT to other financing sources.
  b. DEBIT to loss on sale of capital assets.
  c. CREDIT to other financing sources.
  d. CREDIT to loss on sale of capital assets.
  e. Both items a and b.
  f. Both items c and d.


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joneynes

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Reply #1 on: Jul 6, 2018
Answer to Question 1

b

Answer to Question 2

E


mydiamond

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Reply 2 on: Jul 6, 2018
Wow, this really help

AISCAMPING

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Reply 3 on: Yesterday
:D TYSM

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