Statement of Shareholder's Equity Flashcards
(6 cards)
1
Q
What are the 2 categories on the statement of shareholder’s equity?
A
Balance for the year
2
Q
What is the first balance listed on the Statement of Shareholder’s Equity?
A
Last period’s ending balances
3
Q
What is the second balance listed on the Statement of Shareholder’s Equity?
A
Ending balances on the balance sheet
4
Q
What 2 categories are listed under the first balance?
A
- Net income for the year
- Dividends for the year
5
Q
What is the net income? Under which category is it under?
A
Net income reported on the income statement; first Balance
6
Q
What are Dividends? Under which category is it under?
A
Dividends declared during the period; first Balance
