If an owner makes a withdrawal of cash from a proprietorship then: Othere has been...
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Accounting
If an owner makes a withdrawal of cash from a proprietorship then: Othere has been a violation of accounting principles O owner's equity will increase O owner's equity will decrease Othere will be a new liability showing the owner owes money to the business Responses 2 and 3 above are both correct. Question 13 4 pts If revenue was $45,000, expenses were $37.500 and the owner's withdrawals were $10,000, the reported profit or loss on the income statement would be: $45,000 profit O $7.500 profit $37,500 Loss O $2,500 LOSS O None of the above
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