The owner invested personal equipment in the business. To record this transaction, Question 10 options: debit Equipment and credit Accounts Payable. credit Equipment and debit Capital. debit Equipment and credit Capital. debit Accounts Payable and credit Equipment.

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Business

Isaias Ellison

21 February, 13:34

The owner invested personal equipment in the business. To record this transaction, Question 10 options: debit Equipment and credit Accounts Payable. credit Equipment and debit Capital. debit Equipment and credit Capital. debit Accounts Payable and credit Equipment.

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Pandora · Answer 1

Option C

To record this transaction, debit Equipment and credit Capital.

Explanation:

The session owner's equity is the part of the owner in the cumulative assets subsequent acknowledging rights of lenders. It can be observed in the balance sheet of an individual possessor and its value rises by supplementary expenditure and earnings.

The transaction relates to the expense of the owner in the market. The amount of the owner's equity is enhanced when the owner improves the value of their capital augmentation. Things should be debited and accounts payable has no relationship to the transaction.