Question
Assets totaled $25,450 and liabilities totaled $8,620 at the beginning of the year. During the year, assets decreased by $3,620 and liabilities increased by $2,920.
Assets totaled $25,450 and liabilities totaled $8,620 at the beginning of the year. During the year, assets decreased by $3,620 and liabilities increased by $2,920.
What is the amount of the change in stockholders' equity during the year?
$6,540 decrease $5,990 increase $700 decrease $790 increase
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Principles of Auditing and Other Assurance Services
Authors: Ray Whittington, Kurt Pany
19th edition
978-0077804770, 78025613, 77804775, 978-0078025617
