The financial statement that summarizes the changes in common shares and retained

earnings for a specific period of time is the

statement of changes in equity.

statement of income.

statement of cash flows.

statement of financial position.

Question $15(1$ point$)$

The principal purpose of posting is to

help determine if the financial statements are ready to be prepared.

help identify errors made in the journal.

enter transactions from the journal into the general ledger.

accumulate the effects of journalized transactions in the individual accounts.