2. Ending owner s equity amounted to P70.000 Additional investments during the year amounted to P30,000. Withdrawats totaled P50.000. Compute for the company's net income for the year assuming beginning equity is P10.000. Show your solutions Explain your answer

2. Ending owner s equity amounted to P70.000 Additional investments during the year amounted to P30,000. Withdrawats totaled P50.000. Compute for the company's net income for the year assuming beginning equity is P10.000. Show your solutions Explain your answer

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

Section: Chapter Questions

Problem 16PROB

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2. Ending owner's cquity amounted to P70.000 Additional investments during the year amounted
to P30 000. Withdrawats totaled P50,000. Compute for the company's net income for the year
assuming beginning equity is P10,000.
Show your solutionG
Explain your answer

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