asset = liab + equity , Asset = 120000 + 1 third of asset.
what is asset value.
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Answer Posted / mithin
let x is asset,
x=120000+1/3 of x
then x=120000+x/3
360000+x/3
3x=360000+x
3x-x=360000
2x=360000
x=360000/2
=180000
asset=120000+(1/3*180000)
=120000+60000
=180000
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