Alternative terms of Equity:
- Owner's Capital - for sole proprietorship
- Partner's Capital - for partnership
- Owner's Equity or Shareholder's Equity - for corporation
The components of Equity are as follows:
- Capital contribution of owners (initial and additional)
- Withdrawal by owners
- Net Income or Loss
- Prior Period Adjustments
Normal Balance : Credit
Equity accounts have a normal credit balances.
Researched by :
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