If during the year total assets increase by $79.000 and total liabilities decrease by $18,000, by how much did owner's equity increase/decrease? Multiple Choice $97,000 increase $61,000 decrease $97000 decrease $79.000 increase

If during the year total assets increase by $79.000 and total liabilities decrease by $18,000, by how much did owner's equity increase/decrease? Multiple Choice $97,000 increase $61,000 decrease $97000 decrease $79.000 increase

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

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If during the year total assets increase by $79,000 and total liabilities decrease by $18,000, by how much did owner's equity increase/decrease?
Multiple Choice
$97,000 increase
$61,000 decrease
$97,000 decrease
$79.000 Increase

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