if total liabilities decreased by $49400 and stockholders' equity increased by $29600 during a period of time, then total assets must change by what amount and direction during that same period? $19800 decrease $19800 increase $79000 increase $79000 decrease

Question

20-12-2022
Business

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if total liabilities decreased by $49400 and stockholders' equity increased by $29600 during a period of time, then total assets must change by what amount and direction during that same period? $19800 decrease $19800 increase $79000 increase $79000 decrease

Answer :

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jaiswaljyoti jaiswaljyoti · Answer 1 · 2022-12-23T22:26:03-05:00

The correct response is total asset declined by $19,800.

The following is the solution that we will provide utilizing fundamental accounting. The fact that

Asset is equal to Liabilities plus Owner's Equity, or ($49400) plus ($29600) equals Asset.

Please be aware that the double-entrance accounting method serves as the foundation for the idea of employing the basic accounting equations.

The level of owner equity is it.

The rights of the owner to the company's assets are fundamentally what are meant by "owner's equity." It is the amount that remains for something like the ownership even though obligations have been paid off in full. A legal entity is generally referred to as having "net assets."

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