Asked by
Miriam Santos
on Dec 16, 2024
Verified
The balance in the capital account on the worksheet will equal the amount presented in the balance sheet.
Capital Account
An account used for a proprietorship that represents the owner’s equity.
Balance Sheet
A financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time.
- Know the components and the preparation of the balance sheet and income statement from work sheet data.
Verified Answer
SS
Learning Objectives
- Know the components and the preparation of the balance sheet and income statement from work sheet data.
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