Account Word Problems like this I seem not to get the concept , please give me an exam as how to figure out this problem.
1. The liabilities of Acosta Corporation equal one-third of the total assets. And stockholders equity is $160,000. What is the amount of the liabilities.
Assets = Liabilities + S Equity
? = ? + $160,000
2. The liabilities of the Cochran Company equal one-fifth of the total assets The stockholders equity is $40,000. What is the amount of the liabilities?
Assets = Liabilities + S Equity
? = ? + $40,000