On which financial statement would you find the ending balance in the Capital account?
A) Income Statement
B) Balance Sheet
C) Statement of Owner's Equity
D) Both B and C are correct.

Question

Quizplus · Accepted Answer

The ending balance in the Capital account is found on both the Balance Sheet and the Statement of Owner's Equity. The Balance Sheet shows the company's financial position at a point in time, including owner's equity, while the Statement of Owner's Equity details changes in equity, including the ending capital balance.

On Which Financial Statement Would You Find the Ending Balance