The bank reconciliation for Jhumpa Co shows a 100 personal ...

[RYAN BANYAN]

The bank reconciliation for Jhumpa Co shows a 100 personal withdrawal by L. Jhumpa, the owner, using an ATM, that was not recorded. The journal entry to record this item would involve a
 a. debit to Wages Expense.
   b. debit to L. Jhumpa, Drawing.
   c. debit to Cash.
   d. none of the answers listed.

Question 2

Which equation represents an income statement?
 
  a. Assets = liabilities + stockholders' equity.
  b. Cash in  cash out = net income.
  c. Revenues - expenses = net income.
  d. Beginning retained earnings + revenues  expenses = ending retained earnings.

[courtney_bruh]

Answer to Question 1

b

Answer to Question 2

c