equity in the business must have:?? General Account. If the assets of a business increased $89,000 during a period of time and itsliabilities increased $67,000 during the same period, equity in the business musthave:a. Decreased $22,000.b. Decreased $156,000.c. Increased $22,000.d. Increased $89,000.e. Increased $156,000.

To determine the change in equity, we use the accounting equation:…

Answered: If the assets of a business increased…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 3PB: The income statement comparison for Rush Delivery Company shows the income statement for the current...

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A return on assets of 5.15% means that a company is earning: a.a $5.15 return on every $100 invested in long-term assets. b.a $5.15 return on every $100 of total assets. c.a $5.15 return on every $100 of assets minus liabilities. d.a $5.15 return on every $100 of current assets.
A return on assets of 5.15% means that a company is earning: O a. a $5.15 return on every $100 of assets minus liabilities. O b. a $5.15 return on every $100 of total assets. O c. a $5.15 return on every $100 of current assets. O d. a $5.15 return on every $100 invested in long-term assets.
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If the assets of a business increased $89,000 during a period of time and its liabilities increased $67,000 during the same period, equity in the business must have: a. Decreased $22,000. b. Decreased $156,000. c. Increased $22,000. d. Increased $89,000. e. Increased $156,000.