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Quick Study. 4-1. Owner's Equity Effects. Classify the following items as investment by owner (I), owner's drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owner's equity by putting a check mark on the line. Increase Decrease 1. Rent Expense. 2. Drawings. 3. Service Revenue. 4. Salaries and Wages Expense. 5. Advertising Expense.

Quick Study. 4-1. Owner's Equity Effects. Classify the following items as investment by owner (I), owner's drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owner's equity by putting a check mark on the line. Increase Decrease 1. Rent Expense. 2. Drawings. 3. Service Revenue. 4. Salaries and Wages Expense. 5. Advertising Expense.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Owner's Equity Effects
Quick Study. 4-1. Owner's Equity Effects. Classify the following items as investment by owner (1), owner's drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owner's equity by putting a check mark on the line. Increase Decrease 1. Rent Expense. 2. Drawings. 3. Service Revenue. 4. Salaries and Wages Expense. 5. Advertising Expense.
Transcribed Image Text:Quick Study. 4-1. Owner's Equity Effects. Classify the following items as investment by owner (1), owner's drawings (D), revenues (R), or expenses (E). Then indicate whether each item increases or decreases owner's equity by putting a check mark on the line. Increase Decrease 1. Rent Expense. 2. Drawings. 3. Service Revenue. 4. Salaries and Wages Expense. 5. Advertising Expense.
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