If total liabilities increased by $70500 during a period of time and stockholders' equity decreased by $37000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n) O $107500 increase. O $70500 increase. O $33500 increase. O $33500 decrease.

If total liabilities increased by $70500 during a period of time and stockholders' equity decreased by $37000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n) O $107500 increase. O $70500 increase. O $33500 increase. O $33500 decrease.

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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