Directions: Please provide what is asked in each of the questions below 1. If the Assets of ABC Company amounted to P800,000 while its equity amounted to P436000. Find the amount of liabilities. 2. The liabilities of Mahuyang Company amounted to P250000 and this amount is a fifth of the total amount of the asset. Find the amount of the equity and the asset. 3. The sum of the assets, liabilities and equity of Gwapa Company amounted to P1200000 and its liability is a third of its assets. Find the amount of assets, liabilities and equity.

Directions: Please provide what is asked in each of the questions below 1. If the Assets of ABC Company amounted to P800,000 while its equity amounted to P436000. Find the amount of liabilities. 2. The liabilities of Mahuyang Company amounted to P250000 and this amount is a fifth of the total amount of the asset. Find the amount of the equity and the asset. 3. The sum of the assets, liabilities and equity of Gwapa Company amounted to P1200000 and its liability is a third of its assets. Find the amount of assets, liabilities and equity.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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