By looking at a statement of owner's equity,the effect of the owner's withdrawals on the ending balance of capital can be determined.

Name: By looking at a statement of owner's equity,the effect of the owner's withdrawals on the ending balance of capital can be determined.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

The statement of owner's equity shows the changes in the owner's capital account, including withdrawals. Therefore, by examining the statement, one can determine the effect of the withdrawals on the ending balance of capital.

By Looking at a Statement of Owner's Equity,the Effect of the Owner's