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Summary QuestionWhen an owner invests cash in the business, which accounts are used in this tra
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When an owner invests cash in the businessQuestionWhen an owner invests cash in the business, which accounts are used in this transaction? Question 1Select one: a. Increasing Cash; increasing Owner's Capital b. Increasing Cash; increasing Owner's Withdrawals c. Increasing Service Revenue; dec...

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  • October 13, 2024
  • 2
  • 2024/2025
  • Summary

Subjects

  • it in
  • when an owner invests cash in the businessïquest
  • which accounts are used in this transaction ques
  • it affects two accounts1cash accountothis acco
  • this account increases because there is more cash

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Question


When an owner invests cash in the business, which accounts are used in this

transaction? Question 1Select one: a. Increasing Cash; increasing Owner's

Capital b. Increasing Cash; increasing Owner's Withdrawals c. Increasing

Service Revenue; decreasing Net Worth d. Increasing Cash; increasing Service

Revenue




Answer & Explanation


The correct answer is: a. Increasing Cash; increasing Owner's Capital


Explanation:


When an owner invests cash in the business, it affects two accounts:


1. Cash Account:


o This account represents the amount of cash the business has on

hand.


o When the owner invests cash into the business, this account

increases because there is more cash available to use.

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