The ABC partnership's Statement of Changes in Equity reveals that Partner A's drawing account during the year totaled P150,000, he made an additional capital investment of P80,000 and his share of the loss for the year was P25,000. His ending equity balance was P420,000. What was A's beginning capital balance?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The ABC partnership's Statement of Changes in Equity reveals that
Partner A's drawing account during the year totaled P150,000, he
made an additional capital investment of P80,000 and his share of the
loss for the year was P25,000. His ending equity balance was
P420,000.
What was A's beginning capital balance?
Transcribed Image Text:The ABC partnership's Statement of Changes in Equity reveals that Partner A's drawing account during the year totaled P150,000, he made an additional capital investment of P80,000 and his share of the loss for the year was P25,000. His ending equity balance was P420,000. What was A's beginning capital balance?
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