What is transferred from the income statement to the statement of owner's equity?

The most basic answer would be the revenues, expenses, and net income of a company through a given period. Which will allow you to figure out the owner's equity which is the amount invested by the owners added to the profits, or losses in the company. Is that good enough for you?

Net income for the year or net loss for the year is transferred from income statement to statement of owner's equity,

Net income and or losses are tranfered from income statement to statement of changes in equity

Statement of owners' equity and statement of changes to owners' equity are one and the same. The statement is as follows:
Beginning owners' capital xxx
Add net income xxx
Xxx
Less cash dividends xxx

Ending owners' equity xxx

Helps please

Tevin Trader starts a merchandising business on December 1 and enters into three inventory purchases.

December 7 10 units @ $6 cost
December 14 20 units @ $12 cost
December 21 15 units @ $14 cost


Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification.
Check ( c ) $360.

Exercise 6-1
Inventory costing methods—perpetual

Date Activities Units Acquired at Cost Units Sold at Retail
Jan. 1 Beginning inventory.. . 120 units @ $6.00 _ $ 720
Jan. 10 Sales.. . &nb sp; 70 units @ $15
Mar. 7 Purchase.. . 200 units @ $5.50 _ 1,100
Mar. 15 Sales.. . &nb sp; 125 units @ $15
July 28 Purchase.. . 500 units @ $5.00 _ 2,500
Oct. 3 Purchase.. . 375 units @ $4.40 _ 1,650
Oct. 5 Sales.. . &nb sp; 600 units @ $15
Dec. 19 Purchase.. . 100 units @ $4.10 _ 410
Totals.. . 1,295 units $6,380 795 units


Exercise 6-5
Lower of cost or market
Tanzy Company's ending inventory includes the following items. Compute the lower of cost or market for ending inventory (a) as a whole and (b) applied separately to each product.
&nbs p; __Per Unit__
Product Units Cost Market
Helmets.. . 22 $50 $54
Bats.. . 15 78 72
Shoes.. . 36 95 91
Uniforms.. . 40 36 36

272100, first, start your own thread. Second, did you expect someone to just answer three homework problems for you? It's your work. I'm not going to spend the time just doing your work for you, without seeing that you've even made any effort to do it.

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beginning capital
add investment

add net income or less net loses

less drawings

= ending capital

The primaryinternal users of accounting information are:

Investors
Creditors
Analysts
Managers

Quote:

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Originally Posted by Ms. Smith

What is transferred from the income statement to the statement of owner's equity?

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QUOTE=Miss. Eden;190811 Calculate ending inventory and CGS at LIFO method?