If total assets decreased by $29,000 during a period of time and owner's equity increased by $23,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is .?
If total assets decreased by $29,000 during a period of time and owner's equity increased by $23,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is .?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:If total assets decreased by $29,000 during a period of time and
owner's equity increased by $23,000 during the same period, then the
amount and direction (increase or decrease) of the period's change in
total liabilities is
.?
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