Q:

If total liabilities decreased by $25,000 and owner’s equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?

belongs to collection: Accounting mcq

0

If total liabilities decreased by $25,000 and owner’s equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?

 


  1. $20,000 decrease
  2. $20,000 increase
  3. $25,000 increase
  4. $30,000 increase

All Answers

need an explanation for this answer? contact us directly to get an explanation for this answer

c. $25,000 increase

need an explanation for this answer? contact us directly to get an explanation for this answer

total answers (1)

If total liabilities decreased by $15,000 and owne... >>
<< The accounting equation for Goodboys Enterprises i...