Concept explainers
Concept Introduction:
Financial Statements: Financial statements are reports of the financial condition of a company or entity. In the financial statements, the management presents the financial performance and position of the company at a point in time. Financial statements disclose the financial effects of business transactions. Financial statements include a
Statement of change in equity: It is a financial statement that shows the movements of the equity capital during a period. It is also called the statement of
To Prepare: The statement of owner’s equity for Audi Company for year ended 2017.
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Fundamental Accounting Principles