COMPUTE AND PREPARE:1. Owner, Pedro invested an initial capital amounting Php50,000 in order to put up his carwash business. During the first year operations (2018), the business had a loss of Php25,000. Because of this, Pedro invested additional capitalamounting of Php 50,000 in 2019. In the second year (2019) the company had a net income Php 100,000 and Pedro withdrew php 10,000 for personal use. Compute the ending capital balance of Pedro for the year 2019. COMPUTE AND PREPARE:1. Dwner, Pedro invested an initial capital amounting Php50,000 in order to put up his carwash business. During the firstyear operations (2018), the business had a loss of Php25,000.Because of this, Pedro inwested additional capitalamounting of Php 50,000 in 2019. In the second year (2019)the company had a net income Php 100,000 and Pedrowithdrew php 10,000 for personal use . Compute the endingcapital balance of Pedro for the year 2019.

The ending capital is calculated as sum of beginning capital, investment and net profit and further…

Answered: COMPUTE AND PREPARE: 1. Owner, Pedro…

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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COMPUTE AND PREPARE: 1. Owner, Pedro invested an initial capital amounting Php 50,000 in order to put up his carwash business. During the first year operations (2018), the business had a loss of Php 25,000. Because of this, Pedro invested additional capital amounting of Php 50,000 in 2019. In the second year (2019) the company had a net income Php 100,000 and Pedro withdrew php 10,000 for personal use. Compute the ending capital balance of Pedro for the year 2019.

COMPUTE AND PREPARE:
1. Dwner, Pedro invested an initial capital amounting Php
50,000 in order to put up his carwash business. During the first
year operations (2018), the business had a loss of Php
25,000.Because of this, Pedro inwested additional capital
amounting of Php 50,000 in 2019. In the second year (2019)
the company had a net income Php 100,000 and Pedro
withdrew php 10,000 for personal use . Compute the ending
capital balance of Pedro for the year 2019.

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