On January 1, 2021, the balance of Owner's Capital of FDN Company is P520,000. 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 P800,000 and withdrew P250,000. 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 P520,000. 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 P800,000 and withdrew P250,000. How much is the Owner's Capital on December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:On January 1, 2021, the balance of Owner's Capital of FDN Company is P520,000.
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 P800,000 and withdrew P250,000. How much is the
Owner's Capital on December 31, 2021?
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