Homework Answers
Assets = Liabilities + Owner's equity
As the assets decreased by $15,000, the liabilities + Owner's equity should also reduce by $15,000.
$15,000 decrease in assets = $25,000 decrease in liabilities + $10,000 increase in assets
The answer is Option d.
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Practice Question 38 If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during...
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Help Center Question 1 of total abilities decreased by $25,000 and owner's equity decreased by $5,000...
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If the assets of a business increased $107,000 during a period of time and its liabilities increased $76,000 during the same period, equity in the business must have: Multiple Choice Increased $31.000 Decreased $31.000 Increased $107.000 Decreased $183,000 Increased $183,000 5 of 18 < Prey Next >
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
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