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Owner's Capital
The total equity claimed by the owner of a sole proprietorship or partnership, reflecting the residual assets of the business after liabilities.
Income Summary
An account in which the revenues and expenses are transferred at the end of an accounting period to determine the net income or loss.
Owner's Capital
The amount of money and other assets invested in a business by its owner or owners.
Owner's Drawings
The withdrawal of business assets by the owner for personal use.
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