Question

The statement of owner’s equity provides users of the financial statements with a reconciliation of the company’s ________ and ________ equity accounts.

Answer 1

opening and ending

Step-by-step explanation:

Owners equity statement provide for the changes in equity during the year for which the statement is prepared, It basically starts with opening balance and then after adding and deducting the respective change we get the value of closing equity.

It basically provides for a reconciliation between the actual balance and the balance in balance sheet of the equity.

It is compulsorily prepared as part of financial statements under the regulations.