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Statement of Changes in Owners Equity a. What is the purpose of the statement of changes
Chapter 9, Problem 3(choose chapter or problem)
Statement of Changes in Owner’s Equity
a. What is the purpose of the statement of changes in owner’s equity?
b. What sources of information are used to prepare the statement of changes in owner’s equity?
Questions & Answers
QUESTION:
Statement of Changes in Owner’s Equity
a. What is the purpose of the statement of changes in owner’s equity?
b. What sources of information are used to prepare the statement of changes in owner’s equity?
ANSWER:Step 1 of 3
A statement of changes in owner’s equity represents the changes in the capital balance of a business through-out the year due to the economic activities practiced by a company.