Examlex
Tax preparers must be licensed by either the state of federal government.
Capital Balance
The amount of money an owner has invested in a business plus any retained earnings or minus any losses.
Capital Balance
The amount of money that a partner in a business has contributed to the business minus any withdrawals or distributions.
Bonus Method
The bonus method is an accounting approach used in partnership transactions to reflect changes in the capital accounts of the partners when no actual cash is paid out or received.
Capital Balances
Refers to the amount of capital reported on the balance sheet, including funds contributed by owners or shareholders plus retained earnings.
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