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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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What is the purpose of the statement of shareholders’ equity?

To determine

State the purpose of the statement of shareholders’ equity.

Explanation

Statement of shareholders’ equity: This statement reports the beginning shareholders’ equity and all the changes which led to ending shareholders’ equity. Additional capital, net income from income statement is added to and drawings or dividends are deducted from beginning shareholders’ equity to arrive at the end result, closing balance of shareholders’ equity...

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