The statement of owner's equity informs users about changes in the owner's capital account over a period of time.

Question

Quizplus · Accepted Answer

The statement of owner's equity shows the beginning balance of the owner's capital account, any additional investments made by the owner, any withdrawals made by the owner, and the net income or net loss for the period. Thus, it provides information about the changes in the owner's capital account over a period of time.

The Statement of Owner's Equity Informs Users About Changes in the Owner's