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Prepare statement of changes in owner equity for TY Trading

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Reference no: EM132693453

Activity - TY Trading

TY Trading is owned by Ms. Tenk Yu. As at January 1, 2019, Ms. Yu's capital balance is P 270,000. Ms. Yu also invested additional inventories of P185,000 during the year. TY Trading earned a net income of P55,000. As of December 31, 2019. Ms. Yu's capital balance amounted to P385,500. How much is Ms. Yu's withdrawal for 2019?

Requirements -

1. How much is the drawing of Ms. Yu in 2019?

2. Prepare a statement of changes in owner's equity for TY Trading. (Please use the rubric above.)

Reference no: EM132693453

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