If total liabilities decreased by $24,172 during a period of time and owner's equity increased by $31,776 during the same period, the amount and direction (increase or decrease) of the period's change in total assets would be a Oa. $7,604 decrease Ob. $24,172 increase Oc. $24,172 decrease Od. $7.604 increase
If total liabilities decreased by $24,172 during a period of time and owner's equity increased by $31,776 during the same period, the amount and direction (increase or decrease) of the period's change in total assets would be a Oa. $7,604 decrease Ob. $24,172 increase Oc. $24,172 decrease Od. $7.604 increase
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 3.23E: Adjustment for depreciation The estimated amount of depredation on equipment for the current year is...
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If total liabilities decreased by $24,172 during a period of time and owner's equity increased by $31,776 during the same period, the
amount and direction (increase or decrease) of the period's change in total assets would be a
Oa. $7,604 decrease
Ob. $24,172 increase
Oc. $24,172 decrease
Od. $7.604 increase
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