Asked by Amber Lloyd on Apr 26, 2024

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The capital accounts indicate each partner's ______________ investment while the partner's drawing accounts are ______________ owner's equity accounts.

Capital Accounts

Accounts used in accounting to track the equity and financing of partners in a partnership or of an individual in sole proprietorships.

Drawing Accounts

Accounts used to track the amount of money or assets withdrawn from a business by its owners.

Owner's Equity

The residual interest in the assets of a company after deducting liabilities, representing the owner's claims against the company's assets.

  • Comprehend how capital accounts and drawing accounts reflect partners' investments and withdrawals.
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AP
Akash PolakampalliMay 02, 2024
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