Question Details

Which of the following accounts will not affect owner's equity



1.	All of the following are examples of source documents except
a.	checks.
b.	invoices.
c.	journals.
d.	receipts.



	2.	Which of the following transactions increases both assets and owner's equity?
a.	Receipt of payment from a credit customer
b.	Receipt of a bank loan
c.	Rendering of a service, payment not yet received
d.	Withdrawal of cash by the owner



	3.	Which of the following accounts will not affect owner's equity?
a.	Advertising Expense
b.	Owner's Withdrawals
c.	Land
d.	Sales



	4.	A withdrawal of cash by the owner will reduce which of the following accounts?
a.	Owner's Withdrawals
b.	Owner's Capital
c.	Accounts Receivable
d.	Accounts Payable



	5.	Which of the following does not affect Owner's Capital?
a.	Withdrawal of cash
b.	Earning of revenues
c.	Payment of a debt
d.	Incurring of expenses


6.	An $80 credit item is accidentally posted as a debit. The trial balance column totals will therefore differ by
a.	$0.
b.	$40.
c.	$80.
d.	$160.