If total liabilities decreased by $30400 and owner's equity increased by $21000 during a period of time, then total assets must change by what amount and direction during that same period? O $39800 increase O $9400 increase O $39800 decrease O $9400 decrease

If total liabilities decreased by $30400 and owner's equity increased by $21000 during a period of time, then total assets must change by what amount and direction during that same period? O $39800 increase O $9400 increase O $39800 decrease O $9400 decrease

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 6MC: Which of the following statements is true? A. Tangible assets lack physical substance. B. Tangible...

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Question

Vishnu

If total liabilities decreased by $30400 and owner's equity increased by $21000 during a period of time, then total assets must change
by what amount and direction during that same period?
$39800 increase
$9400 increase
$39800 decrease
O $9400 decrease

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