If total assets decreased by $49,690 during a period of time and stockholders' equity increased by $29,221 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is a.$78,911 increase b.$23,656 increase c.$49,690 decrease d.$78,911 decrease

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter1: Accounting And The Financial Statements
Section: Chapter Questions
Problem 27BE: Retained Earnings Statement Listed below are events that affect stockholders equity. Reported net...
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If total assets decreased by $49,690 during a period of time and stockholders' equity increased by $29,221 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is

a.$78,911 increase
b.$23,656 increase
c.$49,690 decrease
d.$78,911 decrease
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