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 vear 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 vear 2017

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 2EA: Jada Company had the following transactions during the year: Purchased a machine for $500,000 using...

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Jada Company had the following transactions during the year: Purchased a machine for $500,000 using a long-term note to finance it Paid $500 for ordinary repair Purchased a patent for $45,000 cash Paid $200,000 cash for addition to an existing building Paid $60,000 for monthly salaries Paid $250 for routine maintenance on equipment Paid $10,000 for extraordinary repairs If all transactions were recorded properly, what amount did Jada capitalize for the year, and what amount did Jada expense for the year?
Owner,Juan invested an initial capital amounting P50,000 in order to put up his janitorial services conpany.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 (2020), the company had a revenue of P75,000. But Juan wanted to expand his business so invested additional capital amounting to P50,000 in 2021. In the second year (2021), 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 2021.
Owner Pedro invested an initial capital of amounting P50,000 in order to put up hisjanitorial services company. During the first year of operations (2018), the companyhad a loss of P25,000. Because of this, Pedro invested additional capital amounting toP50,000 in 2019. In the second year (2019), the company had a net income ofP100,000 and Pedro withdrew P10,000 for personal use. Compute for the ending capital balance of Pedro for the year 2019.
I'm 2015, mary invested 200,000 in a business that is not a passive activity. During 2016, her share of the business loss is 140,000. In 2017, her share of the business los 100,000. How much can mary deduct in 2016 and 2017?