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increase owner's equity.
9. (LO 4) Which of the following events is not recorded in the accounting records?
a. Equipment is purchased on account.
b. An employee is terminated.
c. A cash investment is made into the business.
d. The owner withdraws cash for personal use.
Answer
o. (LO 4) During 2022, Bruske Company's assets decreased [tex]$50,000 and its liabilities decreased $[/tex]50,000. Its owner's equity therefore
a. increased [tex]$50,000.
b. decreased $[/tex]50,000.
c. decreased $100,000.
d. did not change.
Answer
■.(LO 4) Payment of an account payable affects the components of the accounting equation in the following way.
a. Decreases owner's equity and decreases liabilities.
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Final answer:

The owner's equity decreases when the owner withdraws cash for personal use.


Explanation:

Owner's equity is affected by various transactions in accounting. When the owner withdraws cash for personal use, it reduces the owner's equity since the owner is taking money out of the business. This event is not recorded in the accounting records as it is a personal withdrawal and does not impact the business's financial position.


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