QQuestionAnatomy and Physiology
QuestionAnatomy and Physiology
| Owner distribution is a(n) | account. |
| --- | --- |
| liability | |
| asset | |
| expense | |
| equity | |
Attachments
6 months agoReport content
Answer
Full Solution Locked
Sign in to view the complete step-by-step solution and unlock all study resources.
Step 1I'll solve this accounting classification problem step by step:
Step 2: Understand the Accounting Equation
The fundamental accounting equation is: Assets = Liabilities + Owner's Equity
Final Answer
Key Accounting Insight: - Owner distributions are different from expenses - They represent a direct reduction of the owner's investment - These transactions do not affect the business's income statement - They are recorded on the statement of owner's equity
Need Help with Homework?
Stuck on a difficult problem? We've got you covered:
- Post your question or upload an image
- Get instant step-by-step solutions
- Learn from our AI and community of students