Sunlight, Inc. had the following assets and liabilities as of September 30, 2016 Assets $60,600 Liabilities $27,500 If assets increased by $4,350 and equity increased by $2,900 during October, what is the increase or decrease in liabilities of Sunlight as of October 31, 2016

Sunlight, Inc. had the following assets and liabilities as of September 30, 2016 Assets $60,600 Liabilities $27,500 If assets increased by $4,350 and equity increased by $2,900 during October, what is the increase or decrease in liabilities of Sunlight as of October 31, 2016

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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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Sunlight, Inc. had the following assets and liabilities as of September 30, 2016
Assets $60,600
Liabilities $27,500
If assets increased by $4,350 and equity increased by $2,900 during October, what is the increase or decrease in liabilities of Sunlight as of October 31, 2016

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