OLIVAREZ COLLEGE

Dr. Arcadio Santos, Sucat Rd., Paranaque City

Tel. NO.: (02 8260750; 8257119)
Integrated Basic Education Department
PAASCU Accredited
SY 2020 - 2021
ACTIVITY NO. 1:
Directions: Solve for the missing item on the table. Kindly indicate your solution.

Answer & Solution:

1. Capital Beginning
150,000 – 138,00 = Php 12,000
12,000 + 120,000 = Php 132,00
217,000 –132,000 = Php 85,000

2. Additional Investment
85,000 – 200,00 = Php 115,000
115,00 – 50,000 = Php 165,000
165,000 – 90,000 = Php 75,000

3. Drawings
265,000 + 120,000 = Php 385,000
385,000 + 250,000 = Php 635,000
635,000 – 555,000 = Php 80,000

4. Profit
530,000 + 180,000 = Php 710,000
710,000 – 75,000 + Php 635,000
635,000 – 385,000 = Php 250,000

5. Capital + Ending
288,800 + 100,000 = Php 388,800
388,800 – 85,000 = Php 303,800
303,800 + 150,000 = Php 453,800

II. 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.

Note: you need to create two SCE, one is with net profit while the second is with net loss.
 1. With net profit
Capital beginning Php150,000.00
Additional Investment Php50,000.00
Drawings Php78,000.00
Net Profit Php120,000.00

Answer:
Jimenez Company
Statement of Changes in Equity
For the year ended in December 31, 2019

Capital Beginning 150,000

ADD: Additional Investment 50,000
Net Profit 120,000 70,000
Total 220,000
LESS: Drawings 78,000
Capital: December 31, 2019 142,000

2. With net loss

Capital beginning Php75,000.00
Additional Investment Php25,000.00
Drawings Php15,000.00
(Net Loss) Php20,000.00

Answer:
Jimenez Company
Statement of Changes in Equity
For the year ended in December 31, 2019

Capital Beginning 75,000

ADD: Additional Investment 25,000
Total 100,000
LESS: Drawings 15,000
Net Loss 20,000
Capital: December 31, 2019 65,000