三卡.single ProprietorshipEquity accounts> Capital account should be opened.It is not necessary to reclassify equity inthe single proprietorship because there areno legal restrictions on the owner'sinvestment or withdrawals.There is no need to distinguish initial orcapital from subsequent investmentAll final changes of the owner's equityshould be reflected in capital account
Equity accounts ➢ Capital account should be opened. It is not necessary to reclassify equity in the single proprietorship because there are no legal restrictions on the owner’s investment or withdrawals. There is no need to distinguish initial or capital from subsequent investment. All final changes of the owner’s equity should be reflected in capital account. Ⅰ. Single Proprietorship
三卡.single ProprietorshipWithdrawal as a temporary should demaintained.Its debit side records the payment for theproprietor's personal activities, withdrawal ofcash or other assets by the proprietor forpersonal use.Its credit side records cash and cashequivalents which the owner deposit in theproprietorship temporarily
➢ Withdrawal as a temporary should de maintained. Its debit side records the payment for the proprietor’s personal activities, withdrawal of cash or other assets by the proprietor for personal use. Its credit side records cash and cash equivalents which the owner deposit in the proprietorship temporarily. Ⅰ. Single Proprietorship