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DESCRIPTIONS

Statement of Changes in Owners Equity


This statement will show about the beginning balance, investments, drawings, deductions
and ending balance of Red Onion Farm Production. This reflects to all the changes in equity
arising from all the transactions of the business with can be resulted to the increase or decrease
of the assent of the business.

Statement of Cash Flow


This statement will show about the investing activities, operating activities and financing
activities of the business. It reports the list of cash inflows and cash outflows in the business
during an accounting period. This statement is to show how and where a company is earning and
spending its cash.

Statement of Financial Position


This statement is also known as balance sheet. This will show about the Red Onion Farm
Productions assets, liability and owners equity. It lists the resources, obligations, and ownership
details of Red Onion Farm Productions on a specific day. This statement also will show about
the farms status in its financial aspect.