A company began the year with Assets of $104,000, Liabilities of $22,000 and Stockholders' equity of $82,000.

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A company began the year with Assets of $104,000, Liabilities of $22,000 and Stockholders' equity of $82,000. During the year assets increased $55,400 and stockholders' equity increased $20,800. What was the change in liabilities for the year?

a) Increase of $76,800

b) Increase of $34,400

c) Decrease of $76,800

d) Decrease of $34,400

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Jan 16, 2021 06:46 AM

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A company began the year with Assets of $104,000, Liabilities of $22,000 and Stockholders' equity of $82,000.

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Increase of 3460... View the full answer

Intermediate Accounting

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