Answered: balance of Mr. C. Anada’s capita

Business

Accounting

balance of Mr. C. Anada’s capita

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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Question

2. Case 2: Canada Foods
Canada Foods is owned by Mr. C. Anada. Mr. Anada’s capital balance as at January 1,
2015 is ₱300,000. During the year, Mr. Anada infused additional capital of ₱37,500. Also,
Canada Foods incurred a net loss of ₱30,000. Furthermore, Mr. Anada withdrew ₱22,500
during 2015.
 How much is the balance of Mr. C. Anada’s capital as at December 31, 2015?
 Prepare a statement of changes in owner’s equity for Canada Foods.

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The balance of Mr. C. Anada’s capital as at December 31, 2015

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