4. Owner, Marco invested an initial capital amounting P70,000 in order to putup his Computer Services. During the first year of operations, the business hada loss of Php30,000 because of this Marco invested additional capital amountingto Php70,000 in 2018. In the second year, the company had a net income ofPhp120,000 and Marco withdrew Php50,000 for his personal use. Compute forthe ending capital balance of Marco for the year 2019. 5. The following balances were retrieved from the records of ABM TruckingServices for the year ended December 31, 2020. Prepare a Statement of Changesin Equity of ABM Trucking Services.Capital, January 01, 2020WithdrawalsPhp. 700,000.00150,000.0077,000.0045,000.00Additional InvestmentsNet loss

Hi student Since there are multiple questions, we will answer only first question.

Answered: 4. Owner, Marco invested an initial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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