A company's total liabilities decreased by $135000 and its stockholders' equity decreased by $31500 during a...

Question

Question

Answer 1

Answer #1

As per accounting equation

Assets = Liabilities + Equity

So, Change in Assets = Change in liabilities + Change in equity

So, Change in assets = - $135,000 - $31,500

So, Change in assets = - $ 166,500

So, as the liabilities and equity have reduced, Assets will also reduce by $ 166,500 and so option C is the correct option

Answer 2

Similar Homework Help Questions

If total liabilities decreased by $100000 and stockholders' equity decreased by $25000 during a period of...

If total liabilities decreased by $100000 and stockholders' equity decreased by $25000 during a period of time, then total assets must change by what amount and direction during that same period? $75000 increase $125000 increase $75000 decrease $125000 decrease
If total liabilities decreased by ¥45,000 and equity decreased by ¥10,000 during a period of time,...

If total liabilities decreased by ¥45,000 and equity decreased by ¥10,000 during a period of time, then total assets must change by what amount and direction during that same period? ¥55,000 decrease O ¥35,000 decrease O X55,000 increase O X35,000 increase
Practice Question 38 If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during...

Practice Question 38 If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period? $15,000 decrease $10,000 increase $20,000 increase $10,000 decrease Click if you would like to show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE POR LATER SUBMIT ANSWER

Multiple Choice Question 134 During September 2022, Crane Diner's total liabilities decreased by $70000 and its...

Multiple Choice Question 134 During September 2022, Crane Diner's total liabilities decreased by $70000 and its stockholders' equity increased by $18000. The company's total assets must change by what amount and in what direction during that same period? $70000 Increase $52000 decrease $52000 Increase $88000 Increase
If total assets decreased by $48,048 during a period of time and stockholders' equity increased by...

If total assets decreased by $48,048 during a period of time and stockholders' equity increased by $27,412 during the same period, then the amount and direction (Increase or decrease) of the period's change in total liabilities is a $23,326 increase Ob. $75,460 Increase Oc. $48,048 decrease Od. $75,460 decrease Previous Next >
The total liabilities of Wildhorse Co. decreased by $85000 during the month of August 2022. Stockholders'...

The total liabilities of Wildhorse Co. decreased by $85000 during the month of August 2022. Stockholders' equity increased by $2000 during this pero what amount and in what direction must total assets have changed during August? $59000 Increase $111000 increase $85000 decrease $59000 decrease Click if you would like to Show Work for this question: Open Show Work

If total liabilities increased by $93000 and stockholders' equity increased by $49000 during a period of...

If total liabilities increased by $93000 and stockholders' equity increased by $49000 during a period of time, then total assets must change by what amount and direction during that same period? $240000 increase O $142000 increase O $191000 increase $142000 decrease
please need help with this thank you Question 9 10 pts If total liabilities decreased by...

please need help with this thank you Question 9 10 pts If total liabilities decreased by $50,000 and stockholders' equity increased by $20,000 during a period of time, then total assets must change by what amount and direction during that same period? $30,000 increase O $60.000 decrease $30,000 decrease $70,000 decrease
If total liabilities decreased by $100,000 and total assets decreased by $180,000 during the same accounting...

If total liabilities decreased by $100,000 and total assets decreased by $180,000 during the same accounting time period, what happened to total owners' equity during this period? A. $180,000 increase B. $180,000 decrease C. $80,000 increase D. $80,000 decrease

Question 2 2 pts If total assets increased by $51,000 and stockholders' equity decreased by $11,000...

Question 2 2 pts If total assets increased by $51,000 and stockholders' equity decreased by $11,000 during a period of time, then total liabilities must change by what amount and direction during that same period? • 40,000 decrease $62,000 increase $62,000 decrease $51,000 Increase $40,000 increase Question 7 1.5 pts These selected condensed data are taken from a recent balance sheet of Jane Gray's Farms (in millions of dollars). Cash Accounts receivable Inventory Other current assets Total current assets Total...