Question

1-4 Application Problem: Determining how revenue, expense, and withdrawal transactions change an accounting equation 104,5,6

Answer 1

assest= capital + Liabilities

here revenu =104 expenses =5 withdraw =6

revenue means increases in assets +

expenses means reduce in cash if it is in cash and cash is part of assets

If withdrawal is for personaluse than its treated as adrawing come under capital by deducted from capital.

106 + in cash as assets side

5 deduct from cash in assets side

6 is deducted from capital

Step-by-step explanation: