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8 September, 09:42

During the year, assets increased by $20,000 and stockholders' equity increased by $15,000. What was the increase in liabilities?

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  1. 8 September, 13:00
    0
    The increase in liabilities is $5000

    Explanation:

    Assets = liabilities + owner's equity

    20,000 = liabilities + 15000

    Therefore

    Liabilities = $20000 - $15000 = $5000
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