Question
If total liabilities increased by $97000 and stockholders' equity increased by $31000 during a period of time, then total assets must change by what amount and direction during that same period? • $159000 increase • $128000 increase • $128000 decrease • $190000 increase
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Answer to a math question If total liabilities increased by $97000 and stockholders' equity increased by $31000 during a period of time, then total assets must change by what amount and direction during that same period? • $159000 increase • $128000 increase • $128000 decrease • $190000 increase
Neal
4.595 Answers
1. Apply the accounting equation:
\text{Assets} = \text{Liabilities} + \text{Stockholders' Equity}
2. Changes in the equation are written as:
\Delta \text{Assets} = \Delta \text{Liabilities} + \Delta \text{Stockholders' Equity}
3. Substitute the given values:
\Delta \text{Assets} = 97000 + 31000
4. Calculate the change in assets:
\Delta \text{Assets} = 128000
5. Therefore, the total assets increased by:
128000 \text{ increase}
2. Changes in the equation are written as:
3. Substitute the given values:
4. Calculate the change in assets:
5. Therefore, the total assets increased by:
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