EMS- Owners Equity

Question 1

Owners equity

Answer 1

Money or capital invested in the business by the owner

Question 2

Any

Answer 2

Asset can be given to the business by the owner as a form of capital.

Question 3

Capital and income

Answer 3

Increase OE

Question 4

Drawings and expenses

Answer 4

Decrease OE

Question 5

Expenses

Answer 5

Rent, wages, salaries, stationery, packing material, fuel and cost of sales.

Question 6

Income

Answer 6

Sales, rent, interest on fixed deposit or favorable bank balance.