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The sky is blue because air molecules in the sky act as tiny
Owner's Capital Account
An account that represents the total equity or ownership interest of the owner(s) in a business, reflecting contributions and withdrawals.
Closing Entries
Entries recorded at the conclusion of an accounting cycle to shift balances from temporary to permanent accounts.
Ledger
A book or other collection of financial accounts where all transactions are summarized and recorded.
Balance Sheet
A financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time, offering a snapshot of its financial condition.
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