10) During the current year, The Supply Co. Inc.'s total liabilities decreased by $26,700 and shareholder's equity increased by $4,150. By what amount and in what direction did Sue's total assets change during the same time period? A) $50,850 decrease. B) $50,850 increase. C) $22,550 decrease. D) $22,550 increase.

10) During the current year, The Supply Co. Inc.'s total liabilities decreased by $26,700 and shareholder's equity increased by $4,150. By what amount and in what direction did Sue's total assets change during the same time period? A) $50,850 decrease. B) $50,850 increase. C) $22,550 decrease. D) $22,550 increase.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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