The Poorboy Deli had $95,000 of total assets and $62,000 of total stockholders' equity at December 31,

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The Poorboy Deli had $95,000 of total assets and $62,000 of total stockholders' equity at December 31, 2016. At December 31, 2017, The Poorboy Deli had assets totaling $151,000 and stockholders' equity totaling $105,000.

After analyzing the data, answer the following questions:

1. What was the amount of the increase or decrease in liabilities?

2. Identify a possible reason for the change in liabilities during the year?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Nov 17, 2017 08:47 AM

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The Poorboy Deli had $95,000 of total assets and $62,000 of total stockholders' equity at December 31,

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Req 1 Total Total Total Assets Stockholders Equity Liabiliti...View the full answer

Financial Accounting

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