blanks: s equity is thrice the total liabilities which is 25% of total assets, then is the amount of the owner's equity. The amount of total assets is P720,000. ious

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
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Fill in the blanks:
If owner's equity is thrice the total liabilities which is 25% of total assets, then
is the amount of the owner's equity. The amount of total assets is P720,000.
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Transcribed Image Text:Fill in the blanks: If owner's equity is thrice the total liabilities which is 25% of total assets, then is the amount of the owner's equity. The amount of total assets is P720,000. < Previous Continue
Fill in the blanks:
If the economic obligations of a business amount to P696,000 and its equity amounts to P385,000, then
is the total amount of the economic resources of the business.
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Transcribed Image Text:Fill in the blanks: If the economic obligations of a business amount to P696,000 and its equity amounts to P385,000, then is the total amount of the economic resources of the business. < Previous Continue
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