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What is the difference between owner's capital account and owner's equity?
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I saw this sentence in a book of accounting which put me in doubt that there is some difference between the two, the sentence is "The balance of the Owner's capital account in the ledger will now be the same as the amount of Owner's equity appearing in the balance sheet."
Capital for Owner that shows on Balance sheet
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All I am trying to find out is if I did this right. The following information is taken from the work sheet for Wayman Company as of December 31, 2005. Using this information, determine the amount for K. Wayman, Capital, that should be reported on its December 31,2005, balance sheet. ... View more questions Search
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