Question
Transaction 1: Starting a Business Sheena Bright starts the new business as a proprietorship named Smart Touch Learning. In April 201, the e-learning agency receives
Transaction 1: Starting a Business
Sheena Bright starts the new business as a proprietorship named Smart Touch Learning. In April 201, the e-learning agency receives $30,000 cash from the proprietor (owner), Sheena Bright, and gives her Capital in the business. The effect of this transaction on the accounting equation of the business is:
| Assets | Liabilities | Owners Equity | Type of Owner Equity |
| Cash |
| Sheena Bright, Capital |
|
| (1)30,000 |
| ? | Owner investment |
|
|
|
|
|
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Auditing And Assurance Services
Authors: William Messier, Steven Glover, Douglas Prawitt
6th International Edition
0071284664, 978-0071284660
