Requirement 1
Introduction: There are four main types of financial statements namely income statement, Statement of owners’ equity,
To determine: Net Income by preparing Income statement
Requirement 2
Introduction: There are four main types of financial statements namely income statement, Statement of owners’ equity, Balance Sheet and statement of cash flow. Income statement is used to identify Net revenue per given period, Statement of owners’ equity is used to identify changes of net equity from net revenue and withdrawals
To determine: Statement of owners’ equity for the year ended 31st December 2017
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Loose Leaf for Fundamental Accounting Principles
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