Ask Question
15 October, 22:05

If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?

a. assets would have increased $55,000.

b. assets would have decreased $55,000.

c. assets would have increased $19,000.

d. assets would ha g

+4
Answers (1)
  1. 16 October, 00:25
    0
    Change in Assets = Change in Liabilities + Change in Owner's Equity

    Change in Assets = $74,000 + (-$19000) = + $55000

    A is the answer
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers