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Essay Details:
Essay text:
Below identifies five accounting transactions and specific information that is conveyed to the manager.
1. Connie Rocha withdraws $80,000 from her personal account and invested in a new checking account (Aunt Connie's Cookies).
The transaction is recorded on the balance sheet under the accounting principle: Asset = Liabilities + Owners' Equity
Identify increase and decrease on specific transaction
In this accounting transaction $80,000 debit (own) to "Invested Cash" and credit (owe) to "Connie Rocha Capital."
Conveyed to manager that the company owe Connie $80,000 for her initial investment it in the company startup...
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