Short Answer
Identify each of the following as an (1) increase to owner's equity or a (2) decrease to owner's equity.
(a)Fees earned
(b)Wages expense
(c)Withdrawals
(d)Lawn care revenue
(e)Investment
(f)Supplies expense
Correct Answer:
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(a)1
(b)2
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Correct Answer:
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(b)2
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