Accounting Bellwork 3 rd Hour: How does the When line of the heading of the Income Statement read. For the Month Ended October 31, 200-

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Accounting Bellwork 3 rd Hour: How does the When line of the heading of the Income Statement read. For the Month Ended October 31, 200-

Section 2The Statement of Changes in Owner’s Equity What You’ll Learn  The purpose of the statement of changes in owner’s equity.  How to prepare the statement of changes in owner’s equity. What You’ll Learn  The purpose of the statement of changes in owner’s equity.  How to prepare the statement of changes in owner’s equity.

Why It’s Important One way to evaluate how a business is performing is by tracking the increase or decrease in owner’s equity. Why It’s Important One way to evaluate how a business is performing is by tracking the increase or decrease in owner’s equity. Section 2The Statement of Changes in Owner’s Equity (con’t.) Key Terms  statement of changes in owner’s equity Key Terms  statement of changes in owner’s equity

The Statement of Changes in Owner’s Equity Statement of changes in owner’s equity summarizes changes in the owner’s capital account as a result of business transactions during the period. The Statement of Changes in Owner’s Equity Statement of changes in owner’s equity summarizes changes in the owner’s capital account as a result of business transactions during the period. Section 2The Statement of Changes in Owner’s Equity (con’t.)

The Statement of Changes in Owner’s Equity (con’t.) The information to prepare this statement is found in three places: The Statement of Changes in Owner’s Equity (con’t.) The information to prepare this statement is found in three places: Section 2The Statement of Changes in Owner’s Equity (con’t.)  the work sheet  the income statement  the owner’s capital account in the general ledger  the work sheet  the income statement  the owner’s capital account in the general ledger

Same as worksheet WHEN Money Started the month with. Money or Items invested by owner From the worksheet or Income Statement From the Worksheet To show a net loss, refer to p213.

Demonstration Problems Ch9 Problem 9-4

Prime Printing Co. Statement of Changes in Owners Equity For the month ended June 30, Beginning Capital, June 1, Add: Investments by Owner Net Income Total Increases in Capital Subtotal Less: Withdrawals by Owner Ending Capital, June 30,

Check Your Understanding p214 Thinking Critically 1 & 2 Problem 9-2 Thinking Critically 1 & 2 Problem 9-2 Section 1Preparing the Work Sheet (con’t.)