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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
Transcribed Image Text: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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