The financial statement that shows the changes to a corporation's contributed capital is called
A)Balance Sheet
B)Statement of Changes in Equity
C)Income Statement
D)Statement of Contributed Capital
E)None of these

Question

Quizplus · Accepted Answer

The Statement of Changes in Equity is the financial statement that shows the changes to a corporation's contributed capital. It also includes other changes to shareholder equity, such as dividends and net income. The Balance Sheet shows the corporation's assets, liabilities, and equity at a specific point in time. The Income Statement shows the corporation's revenue, expenses, and net income over a specific period of time. The Statement of Contributed Capital is not a commonly used financial statement.

The Financial Statement That Shows the Changes to a Corporation's