Equity in the business must have? If the assets of a business increased $89,000 during a period oftime 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.

Given the scenario where the assets of a business increased by $89,000 and its liabilities increased…

Answered: If the assets of a business increased…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.4.2MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

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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.