Accounts that affect owner's equity are: a. assets, capital, and revenue. b. capital, liabilities, and expenses. c. expenses, capital, and drawing. d. drawing, assets, and liabilities.
Accounts that affect owner's equity are: a. assets, capital, and revenue. b. capital, liabilities, and expenses. c. expenses, capital, and drawing. d. drawing, assets, and liabilities.
Chapter2: Introduction To Financial Statements
Section: Chapter Questions
Problem 11Q: Explain how the following items affect equity: revenue, expenses, investments by owners, and...
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Transcribed Image Text:Accounts that affect owner's equity are:
a. assets, capital, and revenue.
b. capital, liabilities, and expenses.
c. expenses, capital, and drawing.
d. drawing, assets, and liabilities.
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