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The owner's capital is ₱150,000. The creditors have 60% claims on total assets. What is the correct amount of total assets? ₱250,000 ₱60,000 ₱90,000 ₱375,000   The owner's equity of BSA Company is ₱90,000 representing 30% of the total assets. How much is the amount of total its total liabilities? ₱120,000 ₱210,000 ₱300,000 ₱200,000   My Fried Towel Company collected a note of ₱200,000 plus interest of ₱20,000. The total assets of the company has increased by: ₱220,000 ₱200,000 ₱20,000 ₱180,000

The owner's capital is ₱150,000. The creditors have 60% claims on total assets. What is the correct amount of total assets? ₱250,000 ₱60,000 ₱90,000 ₱375,000   The owner's equity of BSA Company is ₱90,000 representing 30% of the total assets. How much is the amount of total its total liabilities? ₱120,000 ₱210,000 ₱300,000 ₱200,000   My Fried Towel Company collected a note of ₱200,000 plus interest of ₱20,000. The total assets of the company has increased by: ₱220,000 ₱200,000 ₱20,000 ₱180,000

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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The owner's capital is ₱150,000. The creditors have 60% claims on total assets. What is the correct amount of total assets?

  1. ₱250,000
  2. ₱60,000
  3. ₱90,000
  4. ₱375,000

 

The owner's equity of BSA Company is ₱90,000 representing 30% of the total assets. How much is the amount of total its total liabilities?

  1. ₱120,000
  2. ₱210,000
  3. ₱300,000
  4. ₱200,000

 

My Fried Towel Company collected a note of ₱200,000 plus interest of ₱20,000. The total assets of the company has increased by:

  1. ₱220,000
  2. ₱200,000
  3. ₱20,000
  4. ₱180,000
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