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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 1020 |
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It shows the beginning and ending owner's equity balances and the items affecting owner's equity during the period. The balance sheet shows the balance, at a particular time, of each asset, each liability, and owner's equity. It proves that the accounting equation (Assets = Liabilities + Owner's Equity) is in balance...
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The ending balance on the statement of owner's equity is used to report owner's equity on the balance sheet. The statement of cash flows tracks the movement of cash during a specific accounting period. It assigns all cash exchanges to one of three categories—operating, investing, or financing—to calculate the net change in cash and then reconciles the accounting period's beginning and ending cash balances...
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