On Which Financial Statement Would You Find the Ending Capital

question 69

Multiple Choice

On which financial statement would you find the ending Capital balance?

• A) Income statement
• B) Balance Sheet
• C) Statement of owner's equity
• D) Both B and C are correct.

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Definitions:

Direct Labor-Hours

The total hours of labor directly worked on the production of goods or services, used as a basis for assigning labor costs.

Machine-Hours

A measure of production time wherein the focus is on the number of hours a machine is operated in the manufacturing of goods.

Casting Department

The casting department is a specialized segment within a manufacturing facility where metal casting processes are carried out to create metal parts.

Finishing Department

A section of a manufacturing company where goods are completed and prepared for sale.