If total assets decreased by $50,625 during a period of time and stockholders' equity increased by $30,438 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is a-$81,063 decrease b-$21,614 increase c-$50,625 decrease d-$81,063 increase
If total assets decreased by $50,625 during a period of time and stockholders' equity increased by $30,438 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is a-$81,063 decrease b-$21,614 increase c-$50,625 decrease d-$81,063 increase
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 $50,625 during a period of time and stockholders' equity increased by $30,438 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is
a-$81,063 decrease
b-$21,614 increase
c-$50,625 decrease
d-$81,063 increase
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