The beginning capital balance used on the Statement of Owner's Equity is obtained from:
A)the worksheet in the balance sheet credit column.
B)the worksheet in the income statement credit column.
C)the amount calculated on the statement of owner's equity.
D)the general ledger.

Question

Quizplus · Accepted Answer

The beginning capital balance used on the Statement of Owner's Equity is obtained from the worksheet in the balance sheet credit column because this is where the capital account is located.

The Beginning Capital Balance Used on the Statement of Owner's