During 2014, Gibson Companys assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders equity therefore: (a)

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During 2014, Gibson Company’s assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity therefore:

(a) increased $40,000.

(b) decreased $140,000.

(c) decreased $40,000.

(d) increased $140,000.

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Accounting Tools For Business Decision Making

ISBN: 9781119191674

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Feb 07, 2024 03:01 AM

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During 2014, Gibson Companys assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders equity therefore: (a)

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Accounting Tools For Business Decision Making

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