Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

9781119563099

Students also viewed these Accounting questions