STATEMENT OF CHANGES IN EQUITY

 
PRACTICE SET 29 

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

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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= ? 

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