Explain how a business acquire equity(i.e., what kind of things are recorded in and impact equity)

May 5th, 2015
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Be able to explain how a business acquire equity( i.e., what kind of things are recorded in and impact the equity or capital section of the balance sheet)

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Question : Be able to explain how a business acquires equity (i.e. what kinds of things are recorded in and impact the equity or capital section of the balance sheet)?Answer:The owners equity in a business comes from two sources:1. Investments of cash or other assets by owners.2. Earnings from profitable operation of the business.Decreases in owners equity also are caused in two ways:1. Payment of cash or transfer of other assets to owners.2. Losses from unprofitable operation of the business.McBryan officially started Overnight on January 20, 2005. On that day he receiv

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