If Philis creating a document for his company that shows net income and owner's draws from 2011-2012, which of the following kinds of documents is Phil preparing?

Statement of changes in owner's equity
Trint balance sheet
Income statement
Balance shoot

Expert Solution

Answer: statement of changes in owner's equity

Format:

Company name
Statement of Changes in Equity
For year ended
Beg Capital		XXXX
Add: net income		XXXX
Less: Withdrawals by owner		(XXX)
End Capital		XXXX

ekkarill92 answered 2 years ago

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