What is A Non Contra Equity Account
A N on Contra Equity Account is added to the Equity Account or Owner’s Equity Account in case of Sole Proprietorship or Partnership as it is the opposite of Contra Equity Account . For company or corporation, examples are Share Capital, Share Premium, N et Income and in case of Sole Proprietorship or Partnership, Fresh or Further Capital Introduced and N et Profit / Income. These are added to the equity or owner equity in order to calculate the closing equity or closing capital for the accounting period.