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If total liabilities decreased by $50800 and stockholders' equity increased by $30500 during a period of time, then total assets must change by what amount and direction during that same period? O $20300 increase $81300 decrease ○ $20300 decrease O $81300 increase

If total liabilities decreased by $50800 and stockholders' equity increased by $30500 during a period of time, then total assets must change by what amount and direction during that same period? O $20300 increase $81300 decrease ○ $20300 decrease O $81300 increase

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 $50800 and stockholders' equity increased by $30500 during a period of time, then total assets must change by what amount and direction during that same period? O $20300 increase $81300 decrease ○ $20300 decrease O $81300 increase
Transcribed Image Text:If total liabilities decreased by $50800 and stockholders' equity increased by $30500 during a period of time, then total assets must change by what amount and direction during that same period? O $20300 increase $81300 decrease ○ $20300 decrease O $81300 increase
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