General aCCOUNT If total liabilities decreased by $49,600 and stockholders' equityincreased by $29,500 during a period of time, then total assets mustchange by what amount and direction during that same period?a. $79,100 increaseb. $20,100 decreasec. $79,100 decreased. $20,100 increase

To determine the change in total assets, we apply the accounting equation:…

Answered: If total liabilities decreased by…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 20E

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Total debt to total assets% ratio: ?? Round your answer to the nearest hundredth percent Return on equity% ratio: ?? Round your answer to the nearest hundredth percent Asset turnover ratio: ?? Round your answer to the nearest cent
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If total liabilities decreased by $49,600 and stockholders' equity increased by $29,500 during a period of time, then total assets must change by what amount and direction during that same period? a. $79,100 increase b. $20,100 decrease c. $79,100 decrease d. $20,100 increase