Requirement: Prepare a statement of changes in equity for letter B and C STATEMENT OF CHANGES IN EQUITY (SCE)A. The capitaf, withdrawaf and income summary accounts for NUA Travel Agency are shown in T-account from below. The closing entries have been recorded for the year ended December 31,2015.NUA, CapitalDecember 31,P420,000.00Jan. 1P360,000.00Mar 9280,000.00Dec. 31430,000.00NUA, DrawingsMar 31P 90,000.00Dec 31P 420,000.00June 3070,000.00Sept3090,000.00Dec 31170,000.00Income SummaryDec 31P 850,000.00Dec. 31P 1,280,000.00Dec 31430,000.00Requirement: Prepare a statement of changes in equityB. Compute the owner's equity for Norman Gonzales on December 31, 2014 based on the followingdata:Norman Gonzales, Capital January 1, 2014Norman Gonzales, Drawings for 2014Norman Gonzales, Additional Investment 2014P 450,000.00120,000.0080,000.00Net Income 201490,000.00C. Prepare a statement of equity for Darwin Enterprises.Darwin EnterprisesDecember 31, 2016Dr.Cr.P 3,000,000.00Darwin, Capital500,000.00Darwin Additional InvestmentP 600,000.00Darwin, Drawing200,000.00Net IncomePage 17

Notes: Since you have asked multiple questions, we will solve the first question for you. If you…

B. Compute the owner's equity for Norman Gonzales on December 31, 2014 based on the following data: Norman Gonzales, Capital January 1, 2014 Norman Gonzales, Drawings for 2014 Norman Gonzales, Additional Investment 2014 P 450,000.00 120,000.00 80,000.00 90,000.00 Net Income 2014

B. Compute the owner's equity for Norman Gonzales on December 31, 2014 based on the following data: Norman Gonzales, Capital January 1, 2014 Norman Gonzales, Drawings for 2014 Norman Gonzales, Additional Investment 2014 P 450,000.00 120,000.00 80,000.00 90,000.00 Net Income 2014

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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