The ending figure for capital, used on the balance sheet, will be obtained from:
A) balance sheet credit column of the worksheet.
B) the statement of owner's equity.
C) balance sheet debit column of the worksheet.
D) credit column of the income statement.

Question

Quizplus · Accepted Answer

The ending figure for capital on the balance sheet is obtained from the statement of owner's equity, which summarizes the changes in owner's equity over a period, including capital contributions, withdrawals, and the period's net income or loss.

The Ending Figure for Capital, Used on the Balance Sheet