Hello tutor please get the correct answer the general accounting question If total liabilities decreased by $4,700 and stockholders'equity decreased by $7,500 during a period of time, thentotal assets must have changed by what amount anddirection during that same period?

Step 1: Define Basic Accounting EquationThe use of the basic accounting equation is the fundamental…

Answered: If total liabilities decreased by…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 10CDQ

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What amount and direction during that same period on these accounting question?
Selected current year company information follows: Net income Net sales Total liabilities, beginning-year Total liabilities, end-of-year $ 16,553 718,855 89,932 109,201 Total stockholders' equity, beginning-year 204,935 Total stockholders' equity, end-of-year 130,851 What is the return on total assets? (Do not round intermediate calculations.).
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Find Out : (a)Earnings per share(b)Return on common stockholders' equity in %(c)Return on assets in %(d)Current ratio in :1(e)Accounts receivable turnover in times(f)Average collection period in days(g)Inventory turnover in times (h)Days in inventory in days (i)Times interest earned in times (j)Asset turnover in times (k)Debt to assets ratio in % (l)Free cash flow

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If total liabilities decreased by $4,700 and stockholders' equity decreased by $7,500 during a period of time, then total assets must have changed by what amount and direction during that same period?