If the liabilities of a business increased $62,000 during a period of time and the owner's equity in the business decreased $25,000 during the same period, the assets of the business must have: a. Decreased $87,000 b. Increased $37,000 c. Increased $25,000 d. Decreased $37,000

If the liabilities of a business increased $62,000 during a period of time and the owner's equity in the business decreased $25,000 during the same period, the assets of the business must have: a. Decreased $87,000 b. Increased $37,000 c. Increased $25,000 d. Decreased $37,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Accounting solution

If the liabilities of a business increased $62,000 during a period of time and
the owner's equity in the business decreased $25,000 during the same period,
the assets of the business must have:
a. Decreased $87,000
b. Increased $37,000
c. Increased $25,000
d. Decreased $37,000

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