When preparing the statement of owner's equity, the beginning capital balance can always be found in the general ledger.
- A general ledger is a book keeping ledger which shows the set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports.
- Each account is a unique record summarizing a specific type of asset, liability, equity, revenue or expense.
- The general ledger consists of all the individual accounts needed to record the assets, liabilities, equity, revenue, expense, gain, and loss transactions of a business. In most cases, detailed transactions are recorded directly in these general ledger accounts.
- It helps you look at the bigger picture. Accounts including assets (fixed and current), liabilities, revenues, expenses, gains, and losses.
Thus the correct answer is option D.
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