Question
FDNACCT has beginning balance of owners equity of 187,000. This increased to P500,000 at year-end. Owners additional investment and withdrawal were P60,000 and P90,000, respectively.
FDNACCT has beginning balance of owners equity of 187,000. This increased to P500,000 at year-end. Owners additional investment and withdrawal were P60,000 and P90,000, respectively. Total costs and expenses during the year amounted to P299,000.
How much was total revenues earned during the period?
The beginning capital balance shown on FDNACCTs Statement of Changes in Owners Equity is P87,000. Net income for the period is P25,000. The owner withdrew P68,000 cash from the business and made additional investments of P28,000 during the period. Total current liabilities are recorded at P107,000 while long term liabilities amount to P401,000.
How much is the total assets at year end?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
