1. Owner's equity is decreased by a. assets b. revenues. c. expenses. d. liabilities e. none of above 2. Collection of a $1,500 Accounts Receivable increases an asset $1,500; decreases an asset $1,500 b. increases an asset $1,500; decreases a liability $1,500 c. decre d. decreases an asset $1,500; decreases a liability $1,500 e. none of above a. ases a liability $1,500; increases owner's equity $1,500. 3. If an owner makes a withdrawal of cash from a proprietorship, then a. there has been a violation of accounting principles. b. owner's equity will increase. c. owner's equity will decrease d. there will be a new liability showing the owner owes money to the business. e. none of above 4. Mirah Company compiled the following financial information as of December 31, 2020 $340,000 140,000 80,000 240,000 90,000 20,000 20,000 40,000 70,000 Revenues Owner's Capital (1/1/20) Equipment Expenses Cash Owner's Drawings Supplies Accounts payable Accounts receivable