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WorksheetsFABM 2 - Statement of Changes in Equity
Total questions: 10
Worksheet time: 6mins
Which of the following has an effect in the statement of changes in equity?
Assets
Laibilities
Income
Land
Which of the following is not considered as an effect in equity?
Add. Investment
Withdrawal
Liability
Profit
These are increases to owner’s equity by adding investments by the owner.
Additional Investments
Withdrawals
Liability
Profit
These are decreases to owner’s equity by withdrawing assets by the owner.
Investments
Withdrawal
Liability
Profit
Beginning owner’s equity amounted to P 300,000. Net loss for the year totaled P 45,000. No
additional investments and withdrawals for the period. Compute for total increase in equity for the
year.
245 000
255 000
265 000
275 000
Ending owner’s equity amounted to P70,000. Additional investments during the year amounted to P30,000. Withdrawals totaled P50,000. Compute for the company’s net income for the year assuming beginning equity is P10,000
50 000
60 000
70 000
80 000
Which of the following decreases equity?
Additional Investments
Earning of profit
Income
Drawings
Which of the following increases equity?
Withdrawals from the business by owner
Excess of expenses over income
Incurrence of loss by the business
Excess of Income
Which of the following transactions affects owner's equity?
Collection of accounts receivable
Purchase of equipment
Incurrence of expense
Purchase of inventory
Which of the following is the form of business organization when an SFP shows two capital accounts?
Sole Proprietorship
Partnership
Corporation
Cooperative
