The drawing account should be used to show
A) the amount the owner has invested in the business.
B) the amount the owner has taken out of the business.
C) the amount the business has earned.
D) the amount the business has spent.
Correct Answer:
Verified
Q40: An account is a form or record
Q41: Examples of revenue accounts include all of
Q42: Liability,owner's capital,and revenue accounts normally have
A) debit
Q43: The capital account
A) decreases with increased revenue.
B)
Q44: Accounts that affect owner's equity are
A) assets,capital,and
Q46: The normal balance of a capital account
A)
Q47: A T account has which of the
Q48: An increase in an asset account may
Q49: Increases are entered on the credit side
Q50: The difference between the total debits and
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