MC Qu. 123 If the assets of a business increased...
|
If
the assets of a business increased $16,400 during a period of time and
its equity decreased $4,700 during the same period, liabilities in the
business must have:
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| → | Increased $21,100 |
 | Increased $11,700 |
| Decreased $11,700 | |
| Decreased $21,100 | |
| Increased $78,080 |
Change in assets = Change in liabilities + Change in equity
+$16,400 = x – $4,700
x = +$21,100
+$16,400 = x – $4,700
x = +$21,100
