On January 1, 2021, the balance of Owner's Capital of FDN Company is P460,000. During the year the company has Sales of P500,000 with P350,000 as cost of sales and expenses resulting to net income of P150,000. Also, during the year, the owner made additional investment of P400,000 and withdrew P350,000. How much is the Owner's Capital on December 31, 2021?

Answer rating: 100% (QA)

To calculate the Owners Capital on December 31 2021 we need to take into account the initial balance ... View the full answer