The capital, withdrawal and income summary accounts for Christopher Biore Trave Agency are shown in T-account form below. The closing entries have been recorded for the year ended Dec. 31, 2021 as reflected through the same amounts in the T-accounts. Biore, Capital P360,000 Jan. 01 280,000 Mar. 09 430,000 Dec. 31 Dec. 31 P420,000 ? Biore, Drawings P420,000 Dec. 31 Mar. 31 P 90,000 70,000 90,000 170,000 June 30 Sept.30 Dec. 31 Income Summary Dec. 31 P 850,000 430,000 P1,280,000 Dec. 31 Dec. 31 Required: Prepare the statement of changes in equity for Christopher Biore Travel Agency

The capital, withdrawal and income summary accounts for Christopher Biore Trave Agency are shown in T-account form below. The closing entries have been recorded for the year ended Dec. 31, 2021 as reflected through the same amounts in the T-accounts. Biore, Capital P360,000 Jan. 01 280,000 Mar. 09 430,000 Dec. 31 Dec. 31 P420,000 ? Biore, Drawings P420,000 Dec. 31 Mar. 31 P 90,000 70,000 90,000 170,000 June 30 Sept.30 Dec. 31 Income Summary Dec. 31 P 850,000 430,000 P1,280,000 Dec. 31 Dec. 31 Required: Prepare the statement of changes in equity for Christopher Biore Travel Agency

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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