The financial statement that shows the beginning balance of owner's equity; the changes in equity that resulted from new investments by the owner, net income (or net loss); withdrawals; and the ending balance, is the:
A) Statement of financial position.
B) Statement of cash flows.
C) Balance sheet.
D) Statement of owner's equity.
E) Income statement.

Question

Quizplus · Accepted Answer

The statement that shows the beginning balance of owner's equity, the changes in equity during the accounting period, and the ending balance is the Statement of Owner's Equity. This statement is also known as the statement of changes in owner's equity.

The Financial Statement That Shows the Beginning Balance of Owner's