Question
A company began the year with assets of $100,000, liabilities of $20,000, and stockholders' equity of $80,000. During the year assets increased $55,000 and stockholders'
A company began the year with assets of $100,000, liabilities of $20,000, and stockholders' equity of $80,000. During the year assets increased $55,000 and stockholders' equity increased $20,000. What was the change in liabilities for the year?
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
2nd Canadian edition
978-0176721237, 978-0176530884
