A. Prepare a statement of changes in equity.Fabienne Talent Agency has a beginning capital amounting P 1,250,000, anadditional investment of P 550,000, and a net income of P 725,000. Ms. Fabiennealso makes withdrawals amounting to P 380,000. Prepare a statement of changes inequity for March 31, 2020.

Formula: Ending capital = Beginning capital + Additional capital + Net income - drawings

Answered: Fabienne Talent Agency has a beginning…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 9E

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Fabienne Talent Agency has a beginning capital amounting P 1,250,000, an additional investment of P 550,000, and a net income of P 725,000. Ms. Fabienne also makes withdrawals amounting to P 380,000. Prepare a statement of changes in equity for March 31, 2020.