1. The assets of Mahuyang Company amounted to 2,300,000 and its liabilities amounts to a fifth of its equity. Find the amount of equity. 2. The sum of assets, liabilities and equity of Gheena Ling's Company amount to P963,258. Its liability is two-fifths of its equity. Find the amount of equity. 3. The sum of assets, liabilities and equity of Maku Yaw is P1,523,600. Its liability is 1/3 of its equity. Find the amount of the liability.
1. The assets of Mahuyang Company amounted to 2,300,000 and its liabilities amounts to a fifth of its equity. Find the amount of equity. 2. The sum of assets, liabilities and equity of Gheena Ling's Company amount to P963,258. Its liability is two-fifths of its equity. Find the amount of equity. 3. The sum of assets, liabilities and equity of Maku Yaw is P1,523,600. Its liability is 1/3 of its equity. Find the amount of the liability.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter1: Accounting As A Form Of Communication
Section: Chapter Questions
Problem 1.5E: The Accounting Equation Using the accounting equation, answer each of the following independent...
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1. The assets of Mahuyang Company amounted to 2,300,000 and its liabilities amounts to a fifth of its equity. Find the amount of equity.
2. The sum of assets, liabilities and equity of Gheena Ling's Company amount to P963,258. Its liability is two-fifths of its equity. Find the amount of equity.
3. The sum of assets, liabilities and equity of Maku Yaw is P1,523,600. Its liability is 1/3 of its equity. Find the amount of the liability.
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