Answered: 53. If the liabilities of the entity…

53. If the liabilities of the entity are 1/3 of the total assets, assuming the equity balance is 60,000. How much is the total liabilities? 90,000 180,000 60,000 30,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 17MC: If equity equals $100,000, which of the following is true? A. Assets exceed liabilities by $100,000....

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A: Hi student Since there are multiple questions, we will answer only first question.

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53. If the liabilities of the entity are 1/3 of the total assets, assuming the equity balance is 60,000. How much is the total liabilities?

90,000

180,000

60,000

30,000

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