have over the company assets or even over theirown personal belongings.B. ExercisesCompute the following. Show computation in good form.1. Owner, Juan invested an initial capital amounting P50,000 in order to put up his janitorial services company.During the first year of operations (2016), the company had a loss of P25,000. Because of this, Juan investedadditional capital amounting to P50,000 in 2017. In the second year (2017), the company had a net income ofP100,000 and Juan withdrew P10,000 for personal use. Compute for the ending capital balance of Juan for theyear 2017.2. Owner Juana Invested P100,000 to start her laundry business. During the first year of operations (2016), thecompany had a net income of P15,000. Juana invested additional P100,000 to grow the business. In 2017, thebusiness earned P50,000. As of December 31, 2017, Juana's capital balance is P200,000. How much is Juana'swithdrawal?3. Beginning owner's equity amounted to P 300,000. Net loss for the year totaled P 45,000. No additionalinvestments and withdrawals for the period. Compute for total increase in equity for the year.4. Ending owner's equity amounted to P70,000. Additional investments during the year amounted to P30,000.Withdrawals totaled P50,000. Compute for the company's net income for the year assuming beginning equity isP10,000.C. Assessment/Application/Outputs (Please refer to DepEd Order No. 31, s. 2020)Identify the following, write your answer in a separate paper.1. Which form of business organization puts the least risk on its owners?2. Which form of business organization is owned by only one person?3. Increases in owner's equity without additional investment.4. Decreases to owner's equity apart from net effect of revenues and expenses.5. Decreases in equity aside from withdrawals of the owners.6. A type of business that is owned by at least 2 persons.7. In the Statement of Changes in Equity, the company had decreases in capital wherein income is distributed to

NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Compute the föllowing. Show computation in good form. 1. Owner, Juan invested an initial capital amounting P50,000 in order to put up his janitorial services company. During the first year of operations (2016), the company had a loss of P25,000. Because additional capital amounting to P50,000 in 2017. In the second year (2017), the company had a net income of P100,000 and Juan withdrew P10,000 for personal use. Compute for the ending capital balance of Juan for the this, Juan invested year 2017.

Compute the föllowing. Show computation in good form. 1. Owner, Juan invested an initial capital amounting P50,000 in order to put up his janitorial services company. During the first year of operations (2016), the company had a loss of P25,000. Because additional capital amounting to P50,000 in 2017. In the second year (2017), the company had a net income of P100,000 and Juan withdrew P10,000 for personal use. Compute for the ending capital balance of Juan for the this, Juan invested year 2017.

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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