If total assets increased $20,000 during a period and total liabilities increased $12,000 during the same period, the amount and direction (increase or decrease) of the change in stockholders’ equity for that period is:A. a $32,000 increase.B. a $32,000 decrease.C. an $8,000 increase.D. an $8,000 decrease.
If total assets increased $20,000 during a period and total liabilities increased $12,000 during the same period, the amount and direction (increase or decrease) of the change in stockholders’ equity for that period is:A. a $32,000 increase.B. a $32,000 decrease.C. an $8,000 increase.D. an $8,000 decrease.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...
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If total assets increased $20,000 during a period and total liabilities increased $12,000 during the same period, the amount and direction (increase or decrease) of the change in
A. a $32,000 increase.
B. a $32,000 decrease.
C. an $8,000 increase.
D. an $8,000 decrease.
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