Owner, Juan invested an initial capital amounting P50,000 in order to put up his janitorial services company. During the first year of operations (2016), the company had a loss of P25,000. Because of this, Juan invested additional capital amounting to P50, 000 in 2017. In the second year (2017), the company had a net income of P100,000 and Juan withdrew P10,000 for personal use. Compute for the ending capital balance of Juan for the year 2017.
Owner, Juan invested an initial capital amounting P50,000 in order to put up his janitorial services company. During the first year of operations (2016), the company had a loss of P25,000. Because of this, Juan invested additional capital amounting to P50, 000 in 2017. In the second year (2017), the company had a net income of P100,000 and Juan withdrew P10,000 for personal use. Compute for the ending capital balance of Juan for the year 2017.
Chapter11: Invest Or Losses
Section: Chapter Questions
Problem 39P
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Owner, Juan invested an initial capital amounting P50,000 in order to put up his janitorial services company. During the first year of operations (2016), the company had a loss of P25,000. Because of this, Juan invested additional capital amounting to P50, 000 in 2017. In the second year (2017), the company had a net income of P100,000 and Juan withdrew P10,000 for personal use. Compute for the ending capital balance of Juan for the year 2017.
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT