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Which transaction will increase the owner equity

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Reference no: EM132739351

Problem 1: The expanded accounting equation is:

a. Assets + Liabilities = Capital + Drawing + Revenue + Expense

b. Assets = Liabilities + Capital + Drawing + Revenue - Expense

c. Assets = Liabilities - Capital - Drawing - Revenue - Expense

d. Assets = Liabilities + Capital - Drawing + Revenue - Expense

Problem 2: Which of the following transaction will increase the owner's equity?

a. Withdrawal for personal use

b. Payment of rent during the period

c. Service rendered to the client on account basis

d. Collection from a client to apply on his open balance

Reference no: EM132739351

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