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How much of the owner equity to be presented in statement

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Problem 1: As at December 31, 2020, the owner's capital account of GIF and Co has a pre-closing balance of P50,000. During 2020, the owner invested P15,000 to the business and earned a net income of P20,000. There were no withdrawals done during the year. How much of the Owner's equity to be presented in the Statement of Financial Position as at December 31, 2020?

Reference no: EM132943268

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