Question: Learning Objective 3 E-F:1-22 Using the accounting equation Mountain Drycleaners started 2024 with total assets of $19,000 and total liabilities of $14,000. At the

Learning Objective 3 E-F:1-22 Using the accounting equation Mountain Drycleaners started 2024

Learning Objective 3 E-F:1-22 Using the accounting equation Mountain Drycleaners started 2024 with total assets of $19,000 and total liabilities of $14,000. At the end of 2024, Mountain's total assets stood at $12,000 and total liabili ties were $9,000. Requirements 1. Did the owner's equity of Mountain Drycleaners increase or decrease during 2024? By how much? 2. Identify the four possible reasons that owner's equity can change.

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