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Unformatted text preview: d decreased by the drawings • Prepared to verify the equality of debits and credits
• Confirms that only permanent accounts have balances •
• 11 12 3 4/04/2013 ACCOUNTING FOR A COMPANY
• Owners are referred to as shareholders
• Owners’ interests are called share capital
• Not all profits/losses are distributed to shareholders, may be retained/accumulated
• Share capital represents retained profits (or accumulated losses) + share of assets • Note profits are distributed as dividends
INTELLECT MANAGEMENT SERVICES LTD
Statement of Changes in Equity
For the year ended 31 December 2013
Share Capital, 1 January 2013...
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- Spring '14