Instructions: Use the accounting equations to answer the following:a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity isc) The liabilities of Mindanao Farms equal one-third of the assets, and the owner'sb) The liabilities and owner's equity of Visayas Tours are 7,200,000 and 7,950,00,15. Accumulated Depreciation16. Owner's CapitalOwner's• Not ApplicableActivity #6: Accounting Equations15,500,000. What is the amount of liabilities?respectively. What is the amount of the assets?equity is 16,000,000. What is the amount of the liabilities?d) At the beginning of the year. LVM Consulting assets were 27,500,000, and itsowner's equity was 15,000,000. During the year, assets increased 7,500,000 andliabilities decrease 2,250,000. What is the owner's equity at the end?ge

Name: Instructions: Use the accounting equations to answer the following:a)
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Description: Instructions: Use the accounting equations to answer the following:a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity isc) The liabilities of Mindanao Farms equal one-third of the assets, and the owner'sb) The liabilities and ow

Hi student Since there are multiple subparts, we will answer only first three subparts

Business

Accounting

Activity #6: A Instructions: Use the accounting equations to answer the following: a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity is c) The liabilities of Mindanao Farms equal one-third of the assets, and the owner's b) The liabilities and owner's equity of Visayas Tours are 7,200,000 and 7,950,000, 15,500,000. What is the amount of liabilities? respectively. What is the amount of the assets? equity is 16,000,000. What is the amount of the liabilities? d) At the beginning of the vear I VM Consulting accotc wo

Activity #6: A Instructions: Use the accounting equations to answer the following: a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity is c) The liabilities of Mindanao Farms equal one-third of the assets, and the owner's b) The liabilities and owner's equity of Visayas Tours are 7,200,000 and 7,950,000, 15,500,000. What is the amount of liabilities? respectively. What is the amount of the assets? equity is 16,000,000. What is the amount of the liabilities? d) At the beginning of the vear I VM Consulting accotc wo

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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Not Applicabl 16. UWner s Capital Activity #6: Accounting Equations 15,500,000. What is the amount of liabilities? respectively. What is the amount of the assets? c) The liabilities of Mindanao Farms equal one-third of the assets, and the oWners equity is 16,000,000. What is the amount of the liabilities? d) At the beginning of the year. LVM Consulting assets were 27,500,000, and its owner's equity was 15,000,000. During the year, assets increased 7,500,000 and liabilities decrease 2,250,000. What is the owner's equity at the end? 19 | Page Instructions: Use the accounting equations to answer the following: b) The liabilities and owner's equity of Visayas Tours are 7,200,000 and 7,950,00, a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity is
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