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Tracking an owner's expenses
- Using personal funds to pay for company expenses. If an owner or a partner purchases services or supplies for the company and uses personal funds to pay for these items or services, he/she can account for the expense by increasing his/her share of owner's equity.
- Using company funds to pay for personal expenses. If an owner or a partner uses a company check or petty cash to pay for personal expenses, he/she can account for the expense by decreasing his/her share of owner's equity.
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