If the assets of a company increased by $120,000 during a fiscal quarter and the owner's equity increased by $45,000 during the same period, what must have happened to the company's liabilities?
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- The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,426,600 Liabilities: Current liabilities $205,000 Note payable, 6%, due in 15 years 1,019,000 Total liabilities $1,224,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during $1,224,000 year) Common stock, $10 par (no change during year) 1,224,000 Retained earnings: Balance, beginning of year $1,306,000 Net income 571,000 $1,877,000 Preferred dividends $48,960 Common dividends 196,040 245,000 Balance, end of year 1,632,000 Total stockholders' equity $4,080,000 Sales $27,926,100 Interest expense $61,140Assuming that a business total asset is 1/3 liabilities which includes an account payable of 50,000 how much is the total liabilities if the total equity balance is thrice as much as the accounts payable balance?If total assets decreased by $49,016 during a period of time and stockholders' equity increased by $29,140 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is
- Subject. General Account11. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% and owner's equity increased by the same percent, what is the amount of total liabilities at the end of the year? O A. P650,000 O B. P560,000 O C. P410,000 OD. P260,000If total liabilities decreased by $23,609 during a period of time and stockholders' equity increased by $31,807 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is a