Remember that the Equity section of the balance sheet reports the amount of capital that the for-profit

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Remember that the Equity section of the balance sheet reports the amount of capital that the for-profit entity has obtained from two different sources:

1. The amount paid in by the owner(s), which is called P -

C .

2. The amount of income that has been retained in the entity, which is called R E .

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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