Solved

If Total Liabilities Decreased by $75,000 and Stockholders' Equity Increased

Question 124

Multiple Choice

If total liabilities decreased by $75,000 and stockholders' equity increased by $25,000 during a period of time, then total assets must change by what amount and direction during that same period?


A) $100,000 increase
B) $50,000 decrease
C) $50,000 increase
D) $75,000 decrease

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q8: The concern about international companies adopting SOX-type

Q80: The right to receive money in the

Q120: The economic resources that are owned by

Q123: The _ is prepared by an independent

Q127: Jimmy's Repair Shop started the year with

Q129: The balance sheet<br>A)summarizes the changes in retained

Q151: Stockholders' equity<br>A)is usually equal to cash on

Q155: The group of users of accounting information

Q167: Examples of notes are descriptions of the

Q200: The accounting equation can be expressed as