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HII. DIRECTION: 1. Prepare the Statement of changes in equity with the accounts given below using your surname as your company name for the period ended December 31, 2019   Capital beginning Php150,000.00 Additional Investment Php50,000.00 Drawings Php78,000.00 Net Profit Php120,000.00 Capital beginning Php 75,000.00 Additional Investment Php25,000.00 Drawings Php15,000.00 (Net Loss) Php20,000.00         Example format is provided

HII. DIRECTION: 1. Prepare the Statement of changes in equity with the accounts given below using your surname as your company name for the period ended December 31, 2019   Capital beginning Php150,000.00 Additional Investment Php50,000.00 Drawings Php78,000.00 Net Profit Php120,000.00 Capital beginning Php 75,000.00 Additional Investment Php25,000.00 Drawings Php15,000.00 (Net Loss) Php20,000.00         Example format is provided

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 22E
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HII. DIRECTION:

1. Prepare the Statement of changes in equity with the accounts given below using your surname

as your company name for the period ended December 31, 2019

 

Capital beginning Php150,000.00

Additional Investment Php50,000.00

Drawings Php78,000.00

Net Profit Php120,000.00

Capital beginning Php 75,000.00

Additional Investment Php25,000.00

Drawings Php15,000.00

(Net Loss) Php20,000.00

 

 

 

 

Example format is provided 

 

 

 

 

to additional investment and the effect, it increases equity account STEP MIN TUTORIAL SERVICES STATEMENT OF CHANGES IN OWNER’S EQUITY For the year ended December 31,2019 HEADING Capital, January 31,2019 Php 100,000 Additional Investment 50,000 75,000 175,000 25,000 INCREASE EQUITY Add: Net Income Total Less Drawing 25,000 DECREASE EQUITY Capital, December 31,2019 Php 150,000 Format of SCE if the business resulted to a net loss Shown below is an example of SCE with a negative result of operation. The net loss is added to drawing account and the effect, it decreases the owner's equity account STEP MIN TUTORIAL SERVICES HEADINGG STATEMENT OF CHANGES IN OWNER'S EQUITY For the year ended December 31,2019 Capital, January 31,2019 Php 100,000 INCREASE EQUITY Additional Investment 50,000 Total 150,000 Less Drawing 25,000 DECREASE EQUITY Net loss 25,000 50,000 Capital, December 31,2019 Php 100,000
Transcribed Image Text:to additional investment and the effect, it increases equity account STEP MIN TUTORIAL SERVICES STATEMENT OF CHANGES IN OWNER’S EQUITY For the year ended December 31,2019 HEADING Capital, January 31,2019 Php 100,000 Additional Investment 50,000 75,000 175,000 25,000 INCREASE EQUITY Add: Net Income Total Less Drawing 25,000 DECREASE EQUITY Capital, December 31,2019 Php 150,000 Format of SCE if the business resulted to a net loss Shown below is an example of SCE with a negative result of operation. The net loss is added to drawing account and the effect, it decreases the owner's equity account STEP MIN TUTORIAL SERVICES HEADINGG STATEMENT OF CHANGES IN OWNER'S EQUITY For the year ended December 31,2019 Capital, January 31,2019 Php 100,000 INCREASE EQUITY Additional Investment 50,000 Total 150,000 Less Drawing 25,000 DECREASE EQUITY Net loss 25,000 50,000 Capital, December 31,2019 Php 100,000
II. TOPIC: Statement of changes in Equity III. DIRECTION: 1. Prepare the Statement of changes in equity with the accounts given below using your surname as your company name for the period ended December 31, 2019 Capital beginning Php150,000.00 Php50,000.00 Php78,000.00 Additional Investment Drawings Net Profit Php120,000.00 Php75,000.00 Php25,000.00 Php15,000.00 Php20,000.00) Capital beginning Additional Investment Drawings (Net Loss)
Transcribed Image Text:II. TOPIC: Statement of changes in Equity III. DIRECTION: 1. Prepare the Statement of changes in equity with the accounts given below using your surname as your company name for the period ended December 31, 2019 Capital beginning Php150,000.00 Php50,000.00 Php78,000.00 Additional Investment Drawings Net Profit Php120,000.00 Php75,000.00 Php25,000.00 Php15,000.00 Php20,000.00) Capital beginning Additional Investment Drawings (Net Loss)
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