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The owner, Sam Smith, took home a copy machine (value $1,000) from the company for her own personal use. He will not return it. TRANSACTION
The owner, Sam Smith, took home a copy machine (value $1,000) from the company for her own personal use. He will not return it.
TRANSACTION ANALYSIS:
- a.Accounts impacted: name and type
- b.Debits/credits
- c.Explain the transaction
- d.Explain the impact on the balance sheet
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Introduction to Managerial Accounting
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen
8th edition
1259917061, 978-1259917066
