During 2014, Gibson Companys assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders equity therefore: (a)
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During 2014, Gibson Company’s assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity therefore:
(a) increased $40,000.
(b) decreased $140,000.
(c) decreased $40,000.
(d) increased $140,000.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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