Answer to Question #240080 in Accounting for Another you

Question

A. Below are the accounts of Bright Review Center. Prepare a Statement of Changes in Equity for August 31, 2021.

a. Additional Investment - 510,612

b. Maningning, Capital, 8/1/2020 - 1,369,246

c. Maningning, Withdrawals - 24,500

d. Net Income - 456,789

Answer 1

Solution:

The Statement of Changes in Equity for Bright Review Center as of August 31, 2021, is as per the below table: