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Relate and discuss the Statement of Owners Equity
Relate and discuss the Statement of Owners Equity.
Expert Solution
| Statement of owners Equity | |||
| Particular | Capital | Retained Earning | Total |
| Opening Balance | - | - | |
| Add:Income | - | - | |
| Other Income | - | - | |
| Issue of New capital | - | - | |
| Less: Net Loss | - | - | |
| Dividend | - | - | |
| WIthdrawal of capital | - | - | |
| Closing Balance | - | - |
Opening Balance: Previous years ending balance carried forward to next year as opening balance.
Net Income/Net Loss: Net income is a financial year profit after deducting all the expenses. Part of net income is distributed as dividend rest is kept as retained profit. If it is a loss then it reduces capital or owners' equity.
Issue of new capital : When new shares are issued then that will be an increase in capital.
Withdrawal of Capital: When shares are redeemed or capital is withdrawn from the company, it is deducted from the statement of shareholder's equity, as it reduces the total equity of the company.
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