2. Lordinel Trading is owned by Mr. Gamad. As of January 1, 2019, Mr. Gamad's capital balance is Php220,000. He also invested additional inventories of Php120,000 during the year. Lordinel Trading carned a net income of Php80,000. As of December 31, 2019, his capital balance is Php340,000. 1. How much is Mr. Gamad's withdrawal for 2019?
2. Lordinel Trading is owned by Mr. Gamad. As of January 1, 2019, Mr. Gamad's capital balance is Php220,000. He also invested additional inventories of Php120,000 during the year. Lordinel Trading carned a net income of Php80,000. As of December 31, 2019, his capital balance is Php340,000. 1. How much is Mr. Gamad's withdrawal for 2019?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter17: Business Tax Credits And The Alternative Minimum Tax
Section: Chapter Questions
Problem 10P
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