Prepare the statement of changes in equity for Darwin Enterprise as at Dec. 31, 2021 Debit...

 

Transcribed Image Text:

Prepare the statement of changes in equity for Darwin Enterprise as at Dec. 31, 2021 Debit Darwin Capital Accounts receivable Allowance for doubtful accounts Darwin Additional Investment Darwin, Drawing Merchandise inventory Cost of goods sold Net Income Accounts payable Sales 300,000 600,000 150,000 250,000 Credit 3,000,000 2,000 500,000 200,000 100,000 500,000 At the beginning of the year, the liabilities of Shelltron Service Station amounted to P152,500 but it decrease by P45,000 during the year. The assets increased by P110,500 during the year and at the end of the year amounted to P485,700. What is the Owner's Equity at the start of the year? Prepare the statement of changes in equity for Darwin Enterprise as at Dec. 31, 2021 Debit Darwin Capital Accounts receivable Allowance for doubtful accounts Darwin Additional Investment Darwin, Drawing Merchandise inventory Cost of goods sold Net Income Accounts payable Sales 300,000 600,000 150,000 250,000 Credit 3,000,000 2,000 500,000 200,000 100,000 500,000 At the beginning of the year, the liabilities of Shelltron Service Station amounted to P152,500 but it decrease by P45,000 during the year. The assets increased by P110,500 during the year and at the end of the year amounted to P485,700. What is the Owner's Equity at the start of the year?