The assets of the business comprise of ₱100,000 cash and ₱900,000 land and building. The land and building have unpaid mortgage, the only liability of the business. The owner‟s equity is ₱650,000. How much is business liability

The assets of the business comprise of ₱100,000 cash and ₱900,000 land and building. The land and building have unpaid mortgage, the only liability of the business. The owner‟s equity is ₱650,000. How much is business liability

Name: The assets of the business comprise of ₱100,000 cash and ₱900,000 land
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Description: The assets of the business comprise of ₱100,000 cash and ₱900,000 land and building. The land and building have unpaid mortgage, the only liability of the business. The owner‟s equity is ₱650,000. How much is business liability

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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