List the accounts which need must be closed as part of the end of year...
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Accounting
List the accounts which need must be closed as part of the end of year accounting activities A business has made a loss of $15,000, the owners withdrew $55,000 after contributing $10,000 during the year. The net worth (Owner's equity of the business) at the beginning of the financial year was $85,000. Show the formula for calculating the closing balance.
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