Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) Identify the account used by businesses to record the transfer of assets from a business to its owner for personal use: 6.5 Points O

image text in transcribed

1) Identify the account used by businesses to record the transfer of assets from a business to its owner for personal use: 6.5 Points O Arevenue account. O Aliability account. The owner's capital account. The owner's withdrawals account. 2) A company's formal promise to pay (in the form of a promissory note) a future amount is aln): 6.5 Points O Prepaid expense. O Unearned revenue. O Note payable. O Credit account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Computer Accounting With Peachtree Complete 2011

Authors: Carol Yacht, Peachtree Software

15th Edition

007811098X, 978-0078110986

More Books

Students also viewed these Accounting questions

Question

8. Explain the 5P framework for sports marketing.

Answered: 1 week ago

Question

=+c) What are the factors?

Answered: 1 week ago

Question

How does your message use nonverbal communication?

Answered: 1 week ago

Question

What reactive strategies might you develop?

Answered: 1 week ago