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

Question

Mocha

15 October, 22:05

+4

Answers (1)

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Kayden Wilkinson · Answer 1

Change in Assets = Change in Liabilities + Change in Owner's Equity

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

A is the answer