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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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.
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