The purchase of land and buildings will generally be recorded in the same ledger account.
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Q15: Cash withdrawn by the owner of a
Q16: Owner withdrawals always decrease equity.
Q17: Items such as sales tickets, bank statements,
Q18: When a company provides services for which
Q19: Revenues always increase equity.
Q21: If insurance coverage for the next two
Q22: Debit means increase and credit means decrease
Q23: Increases in liability accounts are recorded as
Q24: Asset accounts are decreased by debits.
Q25: Debits increase asset and expense accounts.
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