Balance on January 1, 2020= P 550,000 March 31: The entity earned a total of P 250,000 for its first quarter of operations June 30: The owner withdraws money worth P 300,000 July 28: Ms. Charlott, the owner, invests a total of P 920,000 worth of equipment in the entity. September 22: The entity earned a total of P 450,000 December 31: Total expenses paid at year end amounts to P 380,000 The owner withdraws 500,000 from the business Balance on December 31, 2020= ?

Balance on January 1, 2020= P 550,000 March 31: The entity earned a total of P 250,000 for its first quarter of operations June 30: The owner withdraws money worth P 300,000 July 28: Ms. Charlott, the owner, invests a total of P 920,000 worth of equipment in the entity. September 22: The entity earned a total of P 450,000 December 31: Total expenses paid at year end amounts to P 380,000 The owner withdraws 500,000 from the business Balance on December 31, 2020= ?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 18E

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