Answered: 53. If the liabilities of the entity…

53. If the liabilities of the entity are 1/3 of the total assets, assuming the equity balance is 60,000. How much is the total liabilities? 90,000 180,000 60,000 30,000

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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Question

53. If the liabilities of the entity are 1/3 of the total assets, assuming the equity balance is 60,000. How much is the total liabilities?

90,000

180,000

60,000

30,000

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