The Owner's Capital has a beginning balance of P500,545. The owner gave P500,000 additional investment during the year. Based on the Statement of Profit or Loss, net income for the year was P120,445. The Owner's Capital ending balance is P300,000. How much money did the owner withdraw from the business?
The Owner's Capital has a beginning balance of P500,545. The owner gave P500,000 additional investment during the year. Based on the Statement of Profit or Loss, net income for the year was P120,445. The Owner's Capital ending balance is P300,000. How much money did the owner withdraw from the business?
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 26CE
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