Question
What is the effect on the accounting equation of the following transaction in October 2019: The owner of the business withdrew $1,000 for personal use?
What is the effect on the accounting equation of the following transaction in October 2019: "The owner of the business withdrew $1,000 for personal use"?
a.Increase assets and decrease liabilities
b.Decrease assets and increase liabilities
c.Decrease assets and increase owners' equity
d.Decrease assets and decrease owners' equity
e.Increase assets and increase liabilities
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Integrated Accounting For Windows
Authors: Dale A. Klooster, Warren Allen
6th Edition
0324664850, 9780324664850
