Question: If total liabilities decreased by $ 1 0 5 , 0 0 0 and stockholders' equity decreased by $ 3 5 , 0 0 0

If total liabilities decreased by $105,000 and stockholders' equity decreased by $35,000 during a period of
time, then total assets must change by what amount and direction during that same period?
$140,000 increase
$70,000 decrease
$140,000 decrease
$70,000 decrease
 If total liabilities decreased by $105,000 and stockholders' equity decreased by

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!