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

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 15MC: If current assets are $112,000 and current liabilities are $56,000, what is the current ratio? A....

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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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