Basic Q

The liability of X company = 1/3 of total assets owner's equity is $240,000 what is the liability amount?

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OE is 2/3, being $240,000, so divide this be 2 = $120,000, and you have 1/3 of your total assets, which is your liability.
Assets = Liability + Owners Equity $360,000 = $240,000 + $120,000 36 = 24 + 12 3 = 2 + 1 1 = 2/3 + 1/3
You get the drift ;-0
cristo wrote:

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yes, i get now :) Obrigado!
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Only I got it the wrong way around sorry!
The liability of X company = 1/3 of total assets owner's equity is $240,000 what is the liability amount?
Assets = Liability + Owners Equity $360,000 = $120,000 + $240,000 36 = 12 + 24 3 = 1 + 2 1 = 1/3 + 2/3
So liability is $120,000
I confused your values around - sorry!!!
cristo wrote:

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is ok, i figured it out with what you posted. Thanks very much for your help.

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