The document is the statement of financial position for Amihan Company as of December 31, 20A5. It includes current and non-current assets, current and non-current liabilities, and equity. The owner's capital had a beginning balance of PHP500,545, and the owner contributed an additional PHP100,000. Net income for the year was PHP120,445. To determine how much the owner withdrew, the formula is Ending Balance - Beginning Balance - Additional Contribution - Net Income. Using this, the amount the owner withdrew is PHP120,445.
The document is the statement of financial position for Amihan Company as of December 31, 20A5. It includes current and non-current assets, current and non-current liabilities, and equity. The owner's capital had a beginning balance of PHP500,545, and the owner contributed an additional PHP100,000. Net income for the year was PHP120,445. To determine how much the owner withdrew, the formula is Ending Balance - Beginning Balance - Additional Contribution - Net Income. Using this, the amount the owner withdrew is PHP120,445.
The document is the statement of financial position for Amihan Company as of December 31, 20A5. It includes current and non-current assets, current and non-current liabilities, and equity. The owner's capital had a beginning balance of PHP500,545, and the owner contributed an additional PHP100,000. Net income for the year was PHP120,445. To determine how much the owner withdrew, the formula is Ending Balance - Beginning Balance - Additional Contribution - Net Income. Using this, the amount the owner withdrew is PHP120,445.
The document is the statement of financial position for Amihan Company as of December 31, 20A5. It includes current and non-current assets, current and non-current liabilities, and equity. The owner's capital had a beginning balance of PHP500,545, and the owner contributed an additional PHP100,000. Net income for the year was PHP120,445. To determine how much the owner withdrew, the formula is Ending Balance - Beginning Balance - Additional Contribution - Net Income. Using this, the amount the owner withdrew is PHP120,445.
Overview of Amihan Company's Statement of Financial Position
Objective and Scope
Prepare a classified Statement of Financial Position for Amihan Company as of December
31, 20A5.
The owner’s capital has a beginning balance of Php500,545. The owner gave Php100,000 as an additional contribution during the year. Based on the Statement of Comprehensive Income, net income for the year was Php120,445. How much money did the owner withdrew from the business? Amihan Company Statement of Financial Position As of December 31, 20A5 Current Assets Accounts Receivable ₱56,000.00 Cash ₱77,000.00 Notes Receivable ₱244,000.00 Prepaid Expense ₱56,700.00 Inventory ₱157,840.00 Total Current Assets ₱591,540.00
Non-Current Assets Property, Plant and Equipment ₱750,000.00 Less: Accumulated Depreciation -₱100,000.00 Total Property, Plant and Equipment ₱650,000.00 Intangible Assets ₱124,500.00
Total Non-Current Assets ₱774,500.00
Total Assets ₱1,366,040.00
Current Liabilities Notes Payable ₱120,000.00 Accounts Payable ₱65,000.00 Unearned Income ₱15,345.00 Accrued Expense ₱37,890.00
Equity Owner's Capital ₱627,805.00 Total Equity ₱627,805.00 Total Liabilities and Equity ₱1,366,040.00
Question: The owner’s capital has a beginning balance of Php500,545. The owner gave Php100,000 as an additional contribution during the year. Based on the Statement of Comprehensive Income, net income for the year was Php120,445. How much money did the owner withdrew from the business?
- To determine how much money did the owner withdrew from the business, we should check what are the given values in the problem.
The Possible given values are:
Beginning Balance = 500,545 Ending Balance = 600,545 Additional Contribution/Investment - 100,000 Net Income = 120,445
Nama: Aliea Yenemia Putri NPM: 120110210003 P4-19 A. Randy & Wiskers Enterprises Pro Forma Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity
