Question
A company began the year with Assets of $102,000, Liabilities of $21,000 and Stockholders' equity of $81,000. During the year assets increased $55,200 and stockholders'
A company began the year with Assets of $102,000, Liabilities of $21,000 and Stockholders' equity of $81,000. During the year assets increased $55,200 and stockholders' equity increased $20,400. What was the change in liabilities for the year?
Decrease of $75,600
Increase of $75,600
Increase of $34,800
Decrease of $34,800
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Intermediate Accounting Volume 2
Authors: Thomas Beechy, Joan Conrod, Elizabeth Farrell, Ingrid McLeod-Dick
7th Edition
1259108023, 9781259108020
