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  • Novela

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    G & E Apparel
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    The Novela Bookstore's statement of changes in owner's equity shows that Jerome Sy initially contributed ₱1,500,000 in capital. Over the year, there were additional contributions of ₱450,000 and net income of ₱840,000, bringing the total to ₱2,790,000. However, there were drawings of ₱120,000 and a net loss of ₱320,000 for the year, leaving Ronel Novela with a capital ending balance of ₱2,350,000.

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    The Novela Bookstore's statement of changes in owner's equity shows that Jerome Sy initially contributed ₱1,500,000 in capital. Over the year, there were additional contributions of ₱450,000 and net income of ₱840,000, bringing the total to ₱2,790,000. However, there were drawings of ₱120,000 and a net loss of ₱320,000 for the year, leaving Ronel Novela with a capital ending balance of ₱2,350,000.

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    © All Rights Reserved
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    31 views1 page

    Novela

    Uploaded by

    G & E Apparel
    The Novela Bookstore's statement of changes in owner's equity shows that Jerome Sy initially contributed ₱1,500,000 in capital. Over the year, there were additional contributions of ₱450,000 and net income of ₱840,000, bringing the total to ₱2,790,000. However, there were drawings of ₱120,000 and a net loss of ₱320,000 for the year, leaving Ronel Novela with a capital ending balance of ₱2,350,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 1

    NOVELA BOOKSTORE

    Statement of Changes in Owner's Equity


    For the Year Ended December 31, 201B

    Jerome Sy, Capital- Beginning ₱ 1,500,000


    Add: Additional Contributions 450,000
    Net Income 840,000
    Total ₱ 2,790,000
    Less: Drawings 120,000
    Net Loss During Year 320,000
    Ronel Novela, Capital- Ending ₱ 2,350,000

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