Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be O Dr. Capital.. Cr. Supplies. O Dr. Drawings . Cr. Supplies. O Dr. Supplies... Cr. Drawings. Dr. Supplies . Cr. Capital.
Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be O Dr. Capital.. Cr. Supplies. O Dr. Drawings . Cr. Supplies. O Dr. Supplies... Cr. Drawings. Dr. Supplies . Cr. Capital.
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 19MC: On which financial statement would the Dividends account appear? A. Balance Sheet B. Income...
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![Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be
Dr. Capital . Cr. Supplies.
O Dr. Drawings . Cr. Supplies.
Dr. Supplies . Cr. Drawings.
Dr. Supplies . Cr. Capital.
The first financial statement that is prepared from the trial balance is the *
Statement of cash flows
Statement of changes in equity
Balance sheet
O Income statement](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F63eb03bd-acf2-41b0-8bd4-8f8825862393%2F45fd7ffa-420a-48e7-8c21-66f253dff9b2%2Fctvz43a_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be
Dr. Capital . Cr. Supplies.
O Dr. Drawings . Cr. Supplies.
Dr. Supplies . Cr. Drawings.
Dr. Supplies . Cr. Capital.
The first financial statement that is prepared from the trial balance is the *
Statement of cash flows
Statement of changes in equity
Balance sheet
O Income statement
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