Examlex
Which of the following will increase cumulative borrowing in the cash budget?
Owner's Capital
The total value of assets contributed by the owner of a business plus the retained earnings.
Owner's Drawings
Withdrawals of a business's cash or other assets by the owner for personal use.
Expense Accounts
Accounts used to record business expenses, which reduce net income in the profit and loss statement.
Income Summary
An account used in the closing process that summarizes revenues and expenses to determine the net income or loss for a period.
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