A calendar year reporting company preparing its annual financial statements should use the phrase "at december 31, 2016" in the

Question

tankabanditka [31]

3 years ago

5

A calendar year reporting company preparing its annual financial statements should use the phrase "at december 31, 2016" in the

heading of which financial statements?

Business

1 answer:

ivolga24 [154] · Answer 1 · 2022-06-20T05:56:13+03:00

Financial statements include Income statement, Statement of Owner’s Equity, Balance sheet and Cash flow statement. Statement of Owner’s Equity and Balance sheet are prepared at a particular date at the end of the financial year or period.

Hence, A calendar year reporting company preparing its annual financial statements should use the phrase "at December 31, 2016" in the heading of Statement of Owner’s Equity and Balance sheet.