started

$20162016$

with total assets of

$ $19$ comma $000$$$19,000$

and total liabilities of

$ $11$ comma $000$$$11,000.$

At the end of

$20162016,$

Eager Beaver'sEager$$Beaver$\text{'}$s

total assets stood at

$ $15$ comma $000$$$15,000$

and total liabilities were

$ $8$ comma $000$$$8,000.$

Requirements

$1.$Did the$$ owner's equity of

Eager BeaverEager$$Beaver

increase or decrease during

$20162016?$

By how$$ much?

$2.$Identify the four possible reasons that$$ owner's equity can change.

Question content area bottom

Part $1$

Requirement $1.$ Did the$$ owner's equity of

Eager BeaverEager$$Beaver

increase or decrease during

$20162016?$

By how$$ much?

The$$ owner's equity

decreased

decreased

increased

during the year by

$$$$10001000.$

Part $2$

Requirement $2.$ Identify the four possible reasons that$$ owner's equity can change.

$$Owner$\text{'}$s equity can increase$$ through:

owner contributions

borrowing money

net loss

owner contributions

owner withdrawals

paying a liability

purchasing assets for cash

purchasing assets on account

$$

$$and$/$or

paying a liability

borrowing money

net income

net loss

owner withdrawals

paying a liability

purchasing assets for cash

purchasing assets on account

$.$

$$Owner$\text{'}$s equity can decrease through

owner withdrawals

borrowing money

net income

owner contributions

owner withdrawals

paying a liability

purchasing assets for cash

purchasing assets on account

$$and$/$or

borrowing money

borrowing money

net income

net loss

owner contributions

paying a liability

purchasing assets for cash

purchasing assets on account

$.$