E4-8 Preparing a statement of changes in equity [5–10 min] Selected accounts of Guitars by Peter for the year ended 31 December 2015 follow: Peter, capital Peter, drawings Income summary Clo 31000 Jan 1 152 000 Mar 31 10000 Clo 100000 Clo 220000 Clo 120000 Jun 30 7000 Clo 120000 Bal 120000 Bal 241000 Sep 30 8000 Dec 31 6000 Bal 31000 Clo 31000 Requirement Prepare the business's statement of changes in equity for the year.

E4-8 Preparing a statement of changes in equity [5–10 min] Selected accounts of Guitars by Peter for the year ended 31 December 2015 follow: Peter, capital Peter, drawings Income summary Clo 31000 Jan 1 152 000 Mar 31 10000 Clo 100000 Clo 220000 Clo 120000 Jun 30 7000 Clo 120000 Bal 120000 Bal 241000 Sep 30 8000 Dec 31 6000 Bal 31000 Clo 31000 Requirement Prepare the business's statement of changes in equity for the year.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.5.2P

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