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 P400,000 and withdrew P170,000. How much is the Owner’s Capital on December 31, 2021? On January 1, 2021, the balance of Owner's Capital of FDN Company isP440,000. During the year the company has Sales of P500,000 with P350,000as cost of sales and expenses resulting to net income of P150,000. Also, duringthe year, the owner made additional investment of P400,000 and withdrewP170,000. How much is the Owner's Capital on December 31, 2021?

Owners capital balance indicates the total investment balance of the owner in the company. It can be…

Answered: On January 1, 2021, the balance of…

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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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 P400,000 and withdrew P170,000. How much is the Owner’s Capital on December 31, 2021?

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