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Unformatted text preview: stock. It includes the par value and any amount received in excess of the par value. Retained earnings: amount of net income a corporation has earned since it began in business that has not been distributed as dividends to its stockholders. What is the basic accounting equation? Assets = Liabilities + Shareholders or Owners equity...
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This note was uploaded on 05/24/2008 for the course ACC 300 taught by Professor King during the Spring '08 term at University of Phoenix.
- Spring '08