All of the following are required to prepare a statement of partners' equity except
A) a list of all assets initially transferred into the partnership.
B) the partnership income statement.
C) the opening balance in the partners' capital accounts.
D) the balance in the partners' drawings accounts.

Question

Quizplus · Accepted Answer

A list of all assets initially transferred into the partnership is not required to prepare a statement of partners' equity. The statement focuses on changes in the partners' capital accounts, which are affected by income, drawings, and initial capital balances.

All of the Following Are Required to Prepare a Statement