If total liabilities increased by $10300 during a period of time and owner's equity decreased by $25 during the same period, then the amount and direction (increase or decrease) of the period's chang total assets is a(n) O $14800 increase. $35400 increase. O $35400 decrease. O $14800 decrease.

If total liabilities increased by $10300 during a period of time and owner's equity decreased by $25 during the same period, then the amount and direction (increase or decrease) of the period's chang total assets is a(n) O $14800 increase. $35400 increase. O $35400 decrease. O $14800 decrease.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If total liabilities increased by $10300 during a period of time and owner's equity decreased by $25100
during the same period, then the amount and direction (increase or decrease) of the period's change in
total assets is a(n)
O $14800 increase.
O $35400 increase.
O $35400 decrease.
O $14800 decrease.

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