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.

(c) decreased $40,000.

(b) decreased $140,000.

(d) increased $140,000.

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Financial Accounting

ISBN: 9780470929384

8th Edition

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

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Question Posted: Jul 01, 2024 11:03 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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Financial Accounting

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