Match each of the following accounts with its proper account group from the groups listed below.

-Chris Clark, Drawing
A)Assets
B)Liabilities
C)Owner's Equity
D)Revenue
E)Expenses

Question

Match each of the following accounts with its proper account group from the groups listed below.
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-Chris Clark, Drawing
A)Assets
B)Liabilities
C)Owner's Equity
D)Revenue
E)Expenses

Quizplus · Accepted Answer

Chris Clark is the owner, so his account belongs to the Owner's Equity group. Drawing reflects the amount of money the owner withdraws for personal use, which decreases owner's equity.

Match Each of the Following Accounts with Its Proper Account