When preparing the statement of shareholders' equity,the beginning capital balance can always be found
A)in the Income Statement columns of the work sheet
B)in the statement of cash flows
C)in the general ledger
D)in the Balance Sheet columns of the work sheet

Question

Quizplus · Accepted Answer

The beginning capital balance is a cumulative balance that is carried over from the previous accounting period. Therefore, it can be found in the general ledger, specifically in the capital account.

When Preparing the Statement of Shareholders' Equity,the Beginning Capital Balance