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16 July, 00:50

If the assets of a company increase by $55,000 during the year and its liabilities increase by $25,000 during the same year, then the change in equity of the company during the year must have been:

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  1. 16 July, 02:47
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    Increase of $30,000

    Explanation:

    Increase in Company asset - Increase in liabilities

    Increase in Company asset = $55,000

    Increase in liabilities = $25,000

    Hence:

    $55,000 - $25,000

    =$30,000

    Therefore the change in equity of the company must have an increase of $30,000
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