If total assets decreased by decreased by $11,200 and stockholders' equity decreased by $14,100 during a period of time, then total liabilities must have changed by what amount and direction during that same period?

If total assets decreased by decreased by $11,200 and stockholders' equity decreased by $14,100 during a period of time, then total liabilities must have changed by what amount and direction during that same period?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 1MC: The cumulative effect of an accounting change should generally be reported as an adjustment to the...

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Please give the correct answer

If total assets decreased by
decreased by $11,200 and
stockholders' equity decreased by $14,100 during a
period of time, then total liabilities must have
changed by what amount and direction during that
same period?

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