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Owners' Equity Consists of Two Sources of Capital

question 45

Essay

Owners' equity consists of two sources of capital. What are they?


Definitions:

Posting

The act of recording financial transactions in the ledger of an accounting system.

Account Numbers

are unique identifiers assigned to specific accounts in an accounting system to track financial transactions.

Purchases Journal

The purchases journal is a record of all purchases of goods intended for resale made by a business, listing amounts, suppliers, and dates.

Purchase Invoices

Documents issued by a supplier to a buyer relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer.

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