What two transaction types decrease owner's equity?liabilities and revenueexpenses and withdrawalsexpenses and revenuewithdrawals and investments

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Business

Accounting

What two transaction types decrease owner's equity? liabilities and revenue O expenses and withdrawals expenses and revenue withdrawals and investments

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 16Q: What types of transactions reduce owners equity? What types of transactions reduce retained...

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Similar questions

Explain how the following items affect equity: revenue, expenses, investments by owners, and distributions to owners.
Which of the following decreases owners equity? A. investments by owners B. losses C. gains D. short-term loans
Define liabilities. Identify several characteristics that distin-guish liabilities from owners’ equity.
How to compute the ratio of liabilities to owner's equity
What do we mean when we say that capital, drawing, revenue, and expense accounts are under the umbrella of owners equity?
Short answer Which is more relevant to an investor; Accounts Receivable or Accounts Receivable, Net? What is the difference?
What is meant by net income and net loss?
What is owner Capital listed as a debit or credit
Which theory predict the facts but not assume any particular outcome? O a. Normative theory O b. Agency theory O C. Accounting Theory O d. Positive theory
If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit or as a credit? If the transaction has the effect of decreasing a liability, is the decrease recorded as a debit or as a credit?
What is Asset and Liabilities?
A basic difference between loss contingencies and “real”liabilities is: a. Liabilities stem from past transactions; loss contingen-cies stem from future events. b. Liabilities always are recorded in the accountingrecords, whereas loss contingencies never are.c. The extent of uncertainty involved. d. Liabilities can be large in amount, whereas loss contin-gencies are immaterial.