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April-29 - Louise Peralta - Louise Joseph G. Peralta

1) The document is an asynchronous activity for a senior high school FABM 2 class held on April 29, 2021. It contains practice tasks on the statement of changes in equity (SCE), including true/false questions and completing an SCE for a sole proprietorship. 2) The practice tasks assess students' understanding of key elements of the SCE, such as the treatment of net income/loss and owner's contributions and withdrawals. 3) Students are asked questions about the type of business organization they would choose to start and how to increase owner's equity in their future business.

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Louise Joseph Peralta
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112 views2 pages

April-29 - Louise Peralta - Louise Joseph G. Peralta

1) The document is an asynchronous activity for a senior high school FABM 2 class held on April 29, 2021. It contains practice tasks on the statement of changes in equity (SCE), including true/false questions and completing an SCE for a sole proprietorship. 2) The practice tasks assess students' understanding of key elements of the SCE, such as the treatment of net income/loss and owner's contributions and withdrawals. 3) Students are asked questions about the type of business organization they would choose to start and how to increase owner's equity in their future business.

Uploaded by

Louise Joseph Peralta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Asynchronous Activity

3
Sorsogon National High School April 29, 2021

SENIOR HIGH SCHOOL DEPARTMENT


FABM 2
Name: __________________________________________________________________________________________
Louise Joseph G. Peralta
Grade & Section: __________________________________,
11 - Fairness Date Accomplished: _________________________

ality: ONLINE Type: Synchronous and Asynchronous Platform: Google Meet/Classroom G-Meet Link: meet.google.com/pad-ybnu-bcn

FABM 2 – April 29
1st Quarter; School Year 2020-2021

PRACTICE TASK 1: True or False:


False 1. The SCE is dated “as of the year ended.”

False _____2. There are two equity accounts reposted on the SCE of a sole proprietorship namely,
Owner, Capital and Owner, Drawings.

False 3. The SCE would show the revenues and expenses.

True __4. Net loss is deducted from owner’s capital.

True______ 5. The number of capital accounts presented in the SCE of partnerships is equal to the
number of partners.

PRACTICE TASK 2: Complete the SCE based on the given facts of a service-type sole proprietorship
business, Amorsolo Transport Services. Assume that the company started the year 2017 with P 100,000
capital. During the year, the owner made P 10,000 additional contributions and P 20,000 total
withdrawals. The company generated a net income of P54,000 for the year.

AMORSOLO TRANSPORT SERVICES


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR END DECEMBER 31, 2017

Amorsolo, Capital, January 1, 2017


P100,000

Add:
Net Income P54,000
Additional Investment P10,000
Sub Total: P164,000

Less:
P20,000
Amorsolo, Drawing

Amorsolo, Capital, December 31, 2017 P144,000

PRACTICE TASK 3: Answer the following:


1. If you are to put up your business someday, what type of business organization are you going to
choose? Explain your answer.

I will choose a sole proprietorship because in this type of business I will be the one to gain the most.
The business will only be manage by me and I don’t need to follow any order from other people. Though
I need to take a higher risk compare to other type of business organization, as a young entrepreneur
should see a risk as an opportunity.

2. How can you increase owner’s equity account in your future business?
To increase owner’s equity account in my future business I need to enter a new and larger
market. By entering a new market the business will gain a better revenue which could led to a higher
owner’s equity. Also by decreasing the expenses or minimizing the input while maximizing the output.

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