If total liabilities decreased by $30400 and owner's equity increased by $21000 during a period of time, then total assets must change by what amount and direction during that same period? O $39800 increase O $9400 increase O $39800 decrease O $9400 decrease

If total liabilities decreased by $30400 and owner's equity increased by $21000 during a period of time, then total assets must change by what amount and direction during that same period? O $39800 increase O $9400 increase O $39800 decrease O $9400 decrease

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Vishnu

If total liabilities decreased by $30400 and owner's equity increased by $21000 during a period of time, then total assets must change
by what amount and direction during that same period?
$39800 increase
$9400 increase
$39800 decrease
O $9400 decrease

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