On January 1, 2021, the balance of Owner's Capital of FDN Company is P440,000. During the year the company has Sales of P500,000 with P350,000 as cost of sales and expenses resulting to net income of P150,000. Also, during the year, the owner made additional investment of P600,000 and withdrew P500,000. How much is the Owner's Capital on December 31, 2021?
On January 1, 2021, the balance of Owner's Capital of FDN Company is P440,000. During the year the company has Sales of P500,000 with P350,000 as cost of sales and expenses resulting to net income of P150,000. Also, during the year, the owner made additional investment of P600,000 and withdrew P500,000. How much is the Owner's Capital on December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2021, the balance of Owner's Capital of FDN Company is P440,000. During the year the company has Sales of P500,000 with
P350,000 as cost of sales and expenses resulting to net income of P150,000. Also, during the year, the owner made additional investment of
P600,000 and withdrew P500,000. How much is the Owner's Capital on December 31, 2021?
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