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Q: If total liabilities increased by $15,000 and owner's equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same
period? $20,000 increase $25,000 increase $30,000 increase $20,000 decrease
A: Assets = Liabilities + Stockholders' equity If Liabs and SE increase, the only way the equation can remain balanced is if assets increased too. Answer is $20,000 increase
migzptz|Points 5923|
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Asked 5/17/2012 10:00:42 AM
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