During 2014, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders equity therefore: (a)
Question:
During 2014, Gibson Company 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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Related Book For 
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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