Answered: e sheet of Sunrise Company shows that…

e sheet of Sunrise Company shows that capital P360,000 is equal to ⅓ of its total assets. How much is total liabilities? a. P480,000

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter1: Introduction To Business Activities And Overview Of Financial Statements And The Reporting Process

Section: Chapter Questions

Problem 22E

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Question

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The balance sheet of Sunrise Company shows that capital P360,000 is equal to ⅓ of its total assets. How much is total liabilities?

a. P480,000

b. P720,000

c. P1,080,000

d. P120,000

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