Question: What is the basic accounting or bookkeeping equation? Define each part of the equation (assets, owner's equity,liabilities). In other words, describe what each part means

What is the basic accounting or bookkeeping equation? Define each part of the equation (assets, owner's equity,liabilities). In other words, describe what each part means and provide as many examples of each as you can.

What is "contributed capital"? Where does contributed capital come from? What is the account or line item called on the balance sheet for stock sold between investors on the Stock Exchange?

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