Question

g The statement of stockholders' equity: Multiple Choice All of the other answers are correct. Summarizes the changes in the balance in each stockholders' equity account over a period of time. Lists the balance of each revenue and each expense, and reports the difference as net income. Lists the balances of each asset and each liability, and reports the difference as stockholders' equity.

Answer 1

The correct option is summarizes the changes in the balance in each stockholders' equity account over a period of time

Step-by-step explanation:

Statement of stockholders' equity is the same as statement of changes in equity.

The account shows the changes in each item of stockholders' equity such as the retained earnings,the common stock, paid in capital in excess of par value and so on.

The statement begins with prior balances while incorporating the current period figures in order to ascertain the closing balances for the year under review.

Sometimes,adjustment to prior year figures are also introduced so as to ensure the balances thereafter are reflected appropriately.