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What the owner equity account reflects

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Reference no: EM132739248

Problem 1: In the adjusted trial balance, the Owner's Equity account reflects

a. the beginning-of-the-period balance.

b. the increase to income and expense.

c. the results of adjusting entries.

d. the period ending balance.

Problem 2: Each of the following companies is a merchandising entity except a

a. candy store

b. car wash.

c. furniture store.

d. wholesale parts entity.

Reference no: EM132739248

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