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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

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

FINANCIAL ACCOUNTING
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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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
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. < Previous Continue
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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