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asset = liab + equity , Asset = 120000 + 1 third of asset.
what is asset value.
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Answer Posted / praveen kumar
let asset=x
Asset= 120000+1/3*Asset
x= 120000+1/3*x
x-1/3*x = 120000
2/3*x = 120000
x = 120000*3/2
x = 180000
Asset 180000
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