A Business Paid $100 Cash to Charles Nice (The Owner

question 227

Essay

A business paid $100 cash to Charles Nice (the owner of the business) for his personal use. Set up the necessary T-accounts below and show how this transaction would be recorded directly in those accounts.

---

Definitions:

Spouses

Two individuals married to each other or considered in a relationship equivalent to marriage under the law.

Game Farm

A managed facility for breeding and raising wildlife, often for hunting or conservation purposes.

Reasonable Precautions

Measures that are taken to prevent harm or damage that a prudent person would consider reasonable under given circumstances.

Dangerous Animals

Animals that pose a significant risk of harm to humans, property, or other animals, often subject to specific legal regulations.