If the liabilities of a business increased $92,000 during a period of time and the owner's equity in the business decreased $48,000 during the same period, the assets of the business must have: a. Decreased $140,000 b. Increased $140,000 c. Increased $44,000 d. Decreased $44,000

If the liabilities of a business increased $92,000 during a period of time and the owner's equity in the business decreased $48,000 during the same period, the assets of the business must have: a. Decreased $140,000 b. Increased $140,000 c. Increased $44,000 d. Decreased $44,000

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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Question

I want to correct answer general accounting question

If the liabilities of a business increased $92,000 during a period of time and
the owner's equity in the business decreased $48,000 during the same period,
the assets of the business must have:
a. Decreased $140,000
b. Increased $140,000
c. Increased $44,000
d. Decreased $44,000

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Subject:-- financial accounting
Answer??
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