EXERCISE 2

Ms. Ann Sungit

Statement of Changes in Owner's Equity
For Year Ended In December 31, 2017

Ms. Sungit, Capital, January 1

Investments during the year ₱ 25,000
Net Income During the year 91,500
Total 116,500
Less: Withdrawals ₱ 78,000
Net increase in owner's equity

Ms. Sungit, Capital, December 31

EXERCISE 3

Ms. Ann Sungit

Statement of Changes in Owner's Equity
For Year Ended In December 31, 2017

Ms. Sungit, Capital, January 1

Investments during the year ₱ 25,000
Net Loss 35,000
Total 60,000
Less: Withdrawals ₱ 78,000
Net increase in owner's equity

Ms. Sungit, Capital, December 31

₱ 102,500

38,500

₱ 64,000

₱ 102,500

18,000

₱ 84,500