f) An investment in the business increases g) To purchase "on account" is to create a(n)_ and (account payable) h) When the words "paid on account" occur, it means a reduction of the and reduction of the liability. asset i) Income increases net assets and also j) A withdrawal of cash reduces cash and 2) Compute the amount of the missing element: Assets a) $24,000 b) $16,500 c)X Liabilities $19,000 X $2,700 d) $15,665 $9,406 Owner's equity $12,300 $14,000 X