Accounting 1st 9-Weeks Part 3

Match it! Select the correct answer from the pull down...Good luck!

A financial statement that reports the final balances in all the asset, liability, and owner's equity accounts at the end of the fiscal period.

The information on the statement of changes in owner's equity is used to prepare the _______.

Summarize the changes resulting from business transactions that have occurred during a fiscal period.

A report summarizing the effects of various business transactions on the capital account

Reports a business's net income or net loss for a fiscal period.

_______________ is the difference between total revenue and total expenses for the period.

The purpose of _________ is to show the effect business transactions have on the accounts in the general ledger.

Results when revenue is larger than expenses.