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Drawing Accounts
Accounts used in a sole proprietorship or partnership to record the amounts withdrawn by the owner(s) for personal use.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period, indicating profit or loss.
Partners' Capital Statement
A financial statement that shows the changes in each partner’s equity in the business over a specific period of time.
Drawings
Withdrawals of cash or other assets from a business by the owner for personal use.
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