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Create a statement of changes in equity for partners ex

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Reference no: EM133009506

Partners Ex, Why and Zey formed a partnership called XYZ Partnership in 2018. On January 1, 2019, partners Ex, Why and Zey have outstanding capital balances of ?33.600, ?48,800 and ?30,100, respectively. During the 2019, Ex contributed ?20,000. Why and Zey also contributed ?15,000 each. The partnership reported a net income on 2019 amounting to ?101,000 with a profit sharing ratio of 30%, 40% and 30% for Ex, Why and Zey. The year-end balance of the partners' Drawing are as follows: Ex ?12,000, Why ?15,000 and Zey ?12,500.

Required:

Problem 1: Create a Statement of Changes in Equity for the year end December 31, 2019.

Reference no: EM133009506

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