Which of the following amounts appears on both the income statement and statement of owner's equity?
A) Ending capital
B) Total revenues
C) Net income
D) Drawings

Question

Quizplus · Accepted Answer

Net income is a part of both the income statement and the statement of owner's equity. It is added to the beginning owner's equity in the statement of owner's equity to calculate the ending owner's equity.

Which of the Following Amounts Appears on Both the Income