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    yuyushea1's Avatar
    yuyushea1 Posts: 1, Reputation: 1
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    #1

    Mar 9, 2009, 06:42 PM
    How do you prepare a statement of canges in owner's equity?
    I am having a difficult time with this problem.
    If a company acquires another company from Canada whose only asset is a piece of land, how do I prepare a statement of changes in owner's equity?
    I also have to record the journal entries. I know how to make the conversion from Canadian to US money, and I think I know how to make the journal entry for the first year, but after that what do I do??
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Mar 9, 2009, 07:00 PM

    1) Prepare a Balance Sheet before the event.
    2) Prepare a Balance Sheet after the event.

    The difference in EQUITY will be portrayed
    By the two statements.
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