Basic Q

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

<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
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:

<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>

yes, i get now :) Obrigado!
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
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:

<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
is ok, i figured it out with what you posted. Thanks very much for your help.

<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>

Site Timeline

• Owner takes inventories = do I credit the purchases or the inventories account? Student qu...

• - next thread in General Accounting
• Retention of tax returns and associated documents

• - the site's last updated thread. Posted in Taxes General Forum
• Share To

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.