Question
Have a Statement of Changes In Equity. I. Ending owner's equity amounted to P70,000. Additional investments during the year amounted to P30,000. Withdrawals totaled P50,000.
Have a Statement of Changes In Equity.
I. 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.
II. Owner Juana invested P100,000 to start her laundry business. During the first year of operations (2016), the company had a net income of P15,000. Juana invested additional P100,000 to grow the business. In 2017, the business earned P50,000. As of December 31, 2017, Juana's capital balance is P200,000. How much is Juana's withdrawal?
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College Accounting Chapters 1- 15
Authors: James A Heintz, Robert W Parry
23rd Edition
1337794767, 9781337794763
