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

Question

Quizplus · Accepted Answer

The statement of owner's equity shows the beginning balance of the capital account, any investments made, net income or loss, and owner withdrawals. By subtracting the withdrawals from the ending balance, the effect on the owner's capital account can be determined.

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