The ________________ shows how and why the owner's equity account has changed over a stated period of time.
a. balance sheet
b. income statement
c. statement of owner's equity
d. statement of change
Question 2
Davis Company has the following accounts and balances at the end of the year: Cash, 1,200 Accounts Receivable, 280 Office Equipment, 3,000 Accounts Payable, 1,400 Income from Services, 3,500 Rent Expense, 670 Salaries Expense, 1,000 R. Davis, Capital at the beginning of the year was 2,050 . Rob Davis also withdrew 800 from the company during the year. What is the amount of total assets reported on the balance sheet?
a. 1,480
b. 9,800
c. 3,080
d. 4,480
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