The business was put up from a cash of 200 000 pesos the initial capital of the owner.Then,40 000 of the cash was used to purchase an equipment to be used in business.The purchase of equipment resulted in a liability of 20 000.How much are the total assets of the business?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The business was put up from a cash of 200 000 pesos the initial capital of the owner.Then,40 000 of the cash was used to purchase an equipment to be used in business.The purchase of equipment resulted in a liability of 20 000.How much are the total assets of the business?

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