If the economic resources of the business is 180% of its residual interest is 120% of its economic obligations, how much are the total economic resources and residual interest of the business if its economic obligations is ₱750,000, respectively?
If the economic resources of the business is 180% of its residual interest is 120% of its economic obligations, how much are the total economic resources and residual interest of the business if its economic obligations is ₱750,000, respectively?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. If the economic resources of the business is 180% of its residual interest is 120% of its economic obligations, how much are the total economic resources and residual interest of the business if its economic obligations is ₱750,000, respectively?
2. If the residual interest of a business amounts to ₱800,000 which is 40% of the total assets (economic resources) and 2/3 of the total obligations (economic obligations), what are the amounts of the economic resources and economic obligations, respectively?
3. If owner's equity is twice the total liabilities which is 1/3 of total assets, what would be the owner's equity of the business? the amount of total assets is ₱600,000.
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