The amount of owner's Capital for the balance sheet is usually obtained from the
A) statement of owner's equity.
B) Adjusted Trial Balance columns of the work sheet.
C) Trial Balance columns of the work sheet.
D) Balance Sheet columns of the work sheet.

Question

Quizplus · Accepted Answer

The statement of owner's equity shows the changes in the owner's capital over a period of time, which is then reflected in the balance sheet as the ending balance of owner's capital. Therefore, the amount of owner's capital for the balance sheet is usually obtained from the statement of owner's equity.

The Amount of Owner's Capital for the Balance Sheet Is