1. Are the following events recorded in the accounting records? Do they have an affect on the basic accounting question? a. The owner of the company dies. b. Supplies are purchased on account c. An employee is fired. d. The owner of the business withdraws cash from the businesses for personal use. 2. Indicate how the following business transactions affect the basic accounting equation (what account increase and decrease) a. Paid cash janitorial services b. Purchased equipment for cash c. Invested cash in the business d. Paid accounts payable in full 3. Carla Enterprises had a capital balance of $182000 at the beginning of the period. At the end of the accounting period, the capital balance was $194000. Assuming no additional investment or withdrawals during the period, what is the net income for the period?
1. Are the following events recorded in the accounting records? Do they have an affect on the basic accounting question?
a. The owner of the company dies.
b. Supplies are purchased on account
c. An employee is fired.
d. The owner of the business withdraws cash from the businesses for personal use.
2. Indicate how the following business transactions affect the basic
a. Paid cash janitorial services
b. Purchased equipment for cash
c. Invested cash in the business
d. Paid accounts payable in full
3. Carla Enterprises had a capital balance of $182000 at the beginning of the period. At the end of the accounting period, the capital balance was $194000. Assuming no additional investment or withdrawals during the period, what is the net income for the period?
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