Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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If total liabilities decreased by $75,000 and stockholders'
equity increased by $15,000 during a period of time, then
total assets must change by what amount and direction
during that same period?
a. $60,000 decrease
b. $60,000 increase
c. $75,000 increase
d. $90,000 increase
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Transcribed Image Text:If total liabilities decreased by $75,000 and stockholders' equity increased by $15,000 during a period of time, then total assets must change by what amount and direction during that same period? a. $60,000 decrease b. $60,000 increase c. $75,000 increase d. $90,000 increase
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