The connecting link between the statement of owner's equity and the balance sheet is the owner's withdrawals.

Name: The connecting link between the statement of owner's equity and the balance sheet is the owner's withdrawals.
Brand: Quizplus
Rating: 4.8 (28 reviews)

Question

Quizplus · Accepted Answer

The connecting link between the statement of owner's equity and the balance sheet is the ending owner's equity balance, not the owner's withdrawals. Withdrawals are a component of the statement of owner's equity but do not directly connect it to the balance sheet.

The Connecting Link Between the Statement of Owner's Equity and the Balance