Question
You deposit a check for $2,000 from the company owner into the Checking account. Show the effect on the accounting equation using the extended accounting
You deposit a check for $2,000 from the
company owner into the Checking account.
Show the effect on the accounting equation
using the extended accounting equation.
Assets = Liabilities + Owner's Capital + Revenues - Expenses - Owner's Draws
Is this the correct answer?
$15,000 Chking = Owner's Capital - $15,00 Owner's Draws
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
