A business has total assets of P 381,000 and owner’s equity of P 264,000. How much were the liabilities? Group of answer choices P117,000 P264,000 P381,000 Cannot be dete
A business has total assets of P 381,000 and owner’s equity of P 264,000. How much were the liabilities? Group of answer choices P117,000 P264,000 P381,000 Cannot be dete
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 1E
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A business has total assets of P 381,000 and owner’s equity of P 264,000. How much were the liabilities?
Group of answer choices
P117,000
P264,000
P381,000
Cannot be determined
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