Owner's equity January 1, 2020 was P130,000. Revenues earned in 2020 was P860,000 and expenses incurred was P720,000. During 2020, the owner made a cash withdrawal of P100,000 and cash investments amounting to P20,000. The owner's equity on December 31, 2020 was: Options: • P170,000 • P150,000 • P190,000 • P130,000

Owner's equity January 1, 2020 was P130,000. Revenues earned in 2020 was P860,000 and expenses incurred was P720,000. During 2020, the owner made a cash withdrawal of P100,000 and cash investments amounting to P20,000. The owner's equity on December 31, 2020 was: Options: • P170,000 • P150,000 • P190,000 • P130,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 15DQ

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