STATEMENT OF CHANGES IN EQUITY
1. The Retrieval Company has the following changes in equity items in year-end 2020.
2. Kindly prepare the SCE of the company which is owned by Ms.Charlott
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= ?