Question: The beginning capital balance shown on a statement of changes in equity is P410,000. Net loss for the period is P40,000 and the owner withdrew

The beginning capital balance shown on a statement of changes in equity is P410,000. Net loss for the period is P40,000 and the owner withdrew from the business P60,000 cash and merchandise sold by the business costing P30,000. No additional investments were made by the owner during the period. The owner's capital balance at the end of the period is?

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