Statement of changes in equity

/in /by

 

PRACTICE SET 29 

  1. The Retrieval Company has the following changes in equity items in year-end 2020.  
  2. Kindly prepare the SCE of the company which is owned by Ms. Charlott 

Balance on January 1, 2020=  ₱ 550,000 

March 31: The entity earned a total of ₱ 250,000 for its first quarter of operations 

June 30: The owner withdraws money worth ₱ 300,000 

July 28: Ms. Charlott, the owner, invests a total of ₱ 920,000 worth of equipment in the entity. 

September 22: The entity earned a total of ₱ 450,000  

December 31: Total expenses paid at year end amounts to ₱ 380,000 

The owner withdraws 500,000 from the business 

Balance on December 31, 2020= ?