On December 31, 2018, the company posted an eding capital of 30 million. the following yer, the copany realized a net income after tax of 70 milion, but the owner withdrew 20 million frm the capital for persnal investments. by the end of 2019, how much is the ending capital of the company?
On December 31, 2018, the company posted an eding capital of 30 million. the following yer, the copany realized a net income after tax of 70 milion, but the owner withdrew 20 million frm the capital for persnal investments. by the end of 2019, how much is the ending capital of the company?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 6P
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1. On December 31, 2018, the company posted an eding capital of 30 million. the following yer, the copany realized a net income after tax of 70 milion, but the owner withdrew 20 million frm the capital for persnal investments. by the end of 2019, how much is the ending capital of the company?
2. The following information can be found in Sanduc Merchandising Corporation's financial statement in 2019: cost of sales of 2,450,000; accumulated
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