Solution-Determining the owner withdrawals

Determining the owner withdrawals

Reference no: EM133253201

The owner originally invested P15,000,000 in the business, but has not made any further investments. At the end of its first year of operations, FNDACCT has total assets of P7,000,000 and total liabilities of P3,200,000 while profits amounted to P200,000. How much was the owner's withdrawals during the year?

Reference no: EM133253201

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Determining the owner withdrawals

Reference no: EM133253201

Reference no: EM133253201

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