Question Details

Explain why the dollar amount of total owner's equity probably will not equal the dollar amount 



1.	Explain why the dollar amount of total owner's equity probably will not equal the dollar amount that would remain if all the assets were sold and all the liabilities were then settled.

2.	For each item below, indicate whether a debit or a credit applies.

a. Increase in Art Fees Earned
b. Decrease in Prepaid Rent
c. Decrease in Unearned Fees
d. Increase in Owner's Capital
e. Increase in Depreciation Expense, Buildings
f.  Increase in Interest Receivable
g. Decrease in Accounts Payable
h. Increase in Owner's Withdrawals
i.  Increase in Notes Payable




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