At the end of its first year of operations, FDN Trading reported net income of $41,500. The owner's total investment during the first year was $22,000, and the owner withdrew P3,700 for personal use. How much is the ending capital balance to be reported on the Statement of Owner's Equity?

At the end of its first year of operations, FDN Trading reported net income of $41,500. The owner's total investment during the first year was $22,000, and the owner withdrew P3,700 for personal use. How much is the ending capital balance to be reported on the Statement of Owner's Equity?

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 6CDQ: For Belzcr Corporation, the working capital at the end of the current year is $24,000 more than the...

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