Asked by Viviana Vergara on Jul 20, 2024
Verified
The owners' equity statement for a partnership is called the
A) partners' proportional statement.
B) partners' capital statement.
C) statement of shareholders' equity.
D) capital and drawing statement.
Partners' Capital Statement
A financial statement that shows the changes in the equity of partners in a partnership over a period of time.
- Analyze the impact of various partnership transactions on the partnership’s financial statements, including the balance sheet and owners' equity statement.
Verified Answer
SB
Sasha BarbosaJul 25, 2024
Final Answer :
B
Explanation :
The owners' equity statement for a partnership is called the partners' capital statement.
Learning Objectives
- Analyze the impact of various partnership transactions on the partnership’s financial statements, including the balance sheet and owners' equity statement.