Question

Directions: Write True if the statement is correct and False if the statement is
incorrect.
1. Revenue increases owner's equity account
2. Expenses decrease owner's equity account
3. Liability decreases owner's equity account
4. Additional investment decreases owner's equity account
5. Losses decrease owner's equity account
6. Beginning capital is capital at the beginning of the period
7. Net loss is added to drawing account before it is deducted to the
capital beginning and additional investment.
8. The normal balance of Revenue is credit
9. The normal balance of Expenses is debit
10. The income amount in the statement of changes in owner's
equity is the same amount as the income from the SCI for the same period​

Answer 1

Answer:

a(f) b(true) c(false) d( false) e(true) f(true) g(false) h( true) i(true) j(false)

Explanation:

I think it will be helpful