If an owner makes a withdrawal of cash from a proprietorship then
A) there has been a violation of accounting principles.
B) owner's equity will increase.
C) owner's equity will decrease.
D) there will be a new liability showing the owner owes money to the business.
Correct Answer:
Verified
Q109: If supplies that have been purchased are
Q110: As of December 31 2016 Cancon Company
Q111: Owner's equity is decreased by
A) assets.
B) revenues.
C)
Q112: If total liabilities increased by $6000 then
A)
Q113: Owner's equity is increased by
A) drawings.
B) revenues.
C)
Q115: Owner's equity is decreased by all of
Q116: If total liabilities decreased by $30000 and
Q117: Collection of a $1500 Accounts Receivable
A) increases
Q118: A net loss will result during a
Q119: If total liabilities decreased by $40000 and
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