Financial Accounting, Student Value Edition (5th Edition)
5th Edition
ISBN: 9780134728520
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Chapter 1, Problem 16AE
Basic
Bergmann’s Deli had $142,000 of total assets and $87,000 of total stockholders’ equity at December 31, 2018. At December 31, 2019, Bergmann’s Dell had assets totaling $163,000 and stockholders’ equity totaling $92,000.
After analyzing the data, answer the following questions:
- 1. What was the amount of the increase or decrease in liabilities during 2019?
- 2. Identify a possible reason for the change in liabilities during the year.
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Chapter 1 Solutions
Financial Accounting, Student Value Edition (5th Edition)
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