If total assets decreased by $88,000 during a period of time and owner's equity increased by $71,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities would be a (n) Select one: a. $159,000 decrease b. $17,000 increase c. $88,000 decrease d. $159,000 increase
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If total assets decreased by $88,000 during a period of time and owner's equity increased by $71,000 during the same period, then the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What is the difference between traditional manufacturing and a cottage industry? A. Manufactured products are better qually B. Manufacturing is done on a lower scale. C. Manufacturing is done on a larger scale. D. Manufactured items are worth more.
Answers (2)
Direct materials, $7 per unit, Direct labor, $5 per unit, Variable overhead, $6 per unit, and Fixed overhead, $270,000. The company produced 27,000 units, and sold 18,500 units, leaving 8,500 units in inventory at year-end.
Answers (1)
Easton Pump Company's planned production for the year just ended was 19,100 units. This production level was achieved, and 21,500 units were sold.
Answers (1)
The rationing function of prices means that A) buyers and sellers synchronize their decisions through the price system B) all goods and services are produced by large firms C) government is responsible for setting the prices of basic foods.
Answers (1)
You have a neighbor, Mr. Peterson, who comes to you for advice. He owns a fish and chips restaurant, "The Codfather, LLC" which he started and has built up for 25 years in the neighborhood.
Answers (1)
New Questions in Business
Audrianna gives a walking tour of a popular tourist city to one person for $ 49. To increase her business, she would lower the price by $2 per person for each additional person.
Answers (1)
A firm has a return on equity of 23 percent. The total asset turnover is 2.2 and the profit margin is 6 percent. The total equity is $5,600. What is the net income
Answers (1)
Income before interest and tax $20,000 Debt capital $100,000 Interest on debt capital 5% Tax rate 30% What is the amount of tax paid for the year? The amount of tax paid for the year is $.
Answers (1)
Town Crier has 10 million shares of common stock outstanding. 2 million shares of preferred stock outstanding, and 10 thousand bonds. If the common shares are selling for $28 per share the preferred shares are selling for $15.
Answers (1)
Suppose the yield on short-term government securities (perceived to be risk-free) is about 4%. Suppose also that the expected return required by the market for a portfolio with a beta of 1 is 10.0%. According to the capital asset pricing model: a.
Answers (1)