equistat

Position Statements

Statement of Changes in Equity

Compares the amount of equity the owners have in the business at the beginning of the accounting period and the amount of their equity at the end of the period
Variations that summarize the changes of the rights of owners include: statement of retained earnings, statement of surplus, statement of changes in net worth, statement of shareholders' equity, etc.
All of these show:

           - the amounts of the owners' rights at the beginning
              the period
            - the increases or decreases during that period
            -the amount of rights at the end of the period

ABC Company Statement of Owners' Equity For the Year Ending Dec. 31, 19__
	Partner A	Partner B
Partners' Equity	$ 7,000	$ 9,000
Add: Rental Income (Net)	$20,000	$20,000
Added Total	$27,000	$29,000
Deduct: Repair & Maintenance	($19,000)	($18,000)
Partners' Equity Dec. 31	$ 8,000	$11,000
Notes: Partnership agreement limits withdrawals as follows:
Partner A	$5,000 per year
Partner B	$7,000 per year

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