1.Equipment Capital 1. The owner invests equipment in the business. 2. The company receives cash from a bank loan. 3. The company repays the bank loan. 4. The company purchases furniture on a cash basis. 5. The company purchases land with written notes. 6. The company sales on account. 7. The company pays the electric bill in cash 8. The company purchases supplies on account. 9. The company repays the supplies. 10. The owner withdraws cash for personal use.
1.Equipment Capital 1. The owner invests equipment in the business. 2. The company receives cash from a bank loan. 3. The company repays the bank loan. 4. The company purchases furniture on a cash basis. 5. The company purchases land with written notes. 6. The company sales on account. 7. The company pays the electric bill in cash 8. The company purchases supplies on account. 9. The company repays the supplies. 10. The owner withdraws cash for personal use.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![CREDIT
DEBIT
1.Equipment Capital
1. The owner invests equipment in the business.
2. The company receives cash from a bank loan.
3. The company repays the bank loan.
4. The company purchases furniture on a cash basis.
5. The company purchases land with written notes.
6. The company sales on account.
7. The company pays the electric bill in cash
8. The company purchases supplies on account.
9. The company repays the supplies.
10. The owner withdraws cash for personal use.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5c725284-b92c-4124-ab2f-4f0f5d526d80%2F107d3067-0ba6-4438-ab39-5b6a494efc54%2Fgmz8iui_processed.jpeg&w=3840&q=75)
Transcribed Image Text:CREDIT
DEBIT
1.Equipment Capital
1. The owner invests equipment in the business.
2. The company receives cash from a bank loan.
3. The company repays the bank loan.
4. The company purchases furniture on a cash basis.
5. The company purchases land with written notes.
6. The company sales on account.
7. The company pays the electric bill in cash
8. The company purchases supplies on account.
9. The company repays the supplies.
10. The owner withdraws cash for personal use.
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