_________________ Are the Gross Increase in Owner's Equity Resulting from Business

question 19

Essay

_________________ are the gross increase in owner's equity resulting from business activities entered into for the purpose of earning income.

---

Definitions:

Journal Entries

Records of financial transactions in the accounting system, detailing the accounts affected and whether they are debits or credits.

Effective Interest Method

A method of calculating the interest rate on a bond that factors in the actual amount paid over the life of the bond, including any fees or costs.

Amortization Table

A table that outlines each periodic payment on a loan over time, breaking down the amounts that go towards the principal and interest.

Semiannual Payment

A payment made twice a year, often related to loans, insurance premiums, or investments.