Great Wall Chinese Cuisine started 2016 with total assets of $18,000 and total liabilities of $7,000. At the end of 2016, Great Wall's total assets stood at $13,000 and total liabilities were $11,000. Requirements 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? 2. Identify the four possible reasons that owner's equity can change. Requirement 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? The owner's equity decreased during the year by $ 9000 Requirement 2. Identify the four possible reasons that owner's equity can change. Owner's equity can increase through: and/or 7 Owner's equity can decrease through and/or borrowing money net loss owner contributions owner withdrawals paying a liability purchasing assets for cash purchasing assets on account Great Wall Chinese Cuisine started 2016 with total assets of $18,000 and total liabilities of $7,000. At the end of 2016, Great Wall's total assets stood at $13,000 and total liabilities were $11,000. Requirements 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? 2. Identify the four possible reasons that owner's equity can change. Requirement 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? The owner's equity decreased during the year by $ 9000 Requirement 2. Identify the four possible reasons that owner's equity can change. Owner's equity can increase through: 7 and/or Owner's equity can decrease through and/or borrowing money net income net loss owner withdrawals paying a liability purchasing assets for cash purchasing assets on account Great Wall Chinese Cuisine started 2016 with total assets of $18,000 and total liabilities of $7,000. At the end of 2016, Great Wall's total assets stood at $13,000 and total liabilities were $11,000. Requirements 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? 2. Identify the four possible reasons that owner's equity can change. Requirement 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? The owner's equity decreased during the year by $ 9000 Requirement 2. Identify the four possible reasons that owner's equity can change. Owner's equity can increase through: and/or Owner's equity can decrease through and/or borrowing money net income owner contributions owner withdrawals paying a liability purchasing assets for cash purchasing assets on account Great Wall Chinese Cuisine started 2016 with total assets of $18,000 and total liabilities of $7,000. At the end of 2016, Great Wall's total assets stood at $13,000 and total liabilities were $11,000. Requirements 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? 2. Identify the four possible reasons that owner's equity can change. Requirement 1. Did the owner's equity of Great Wall Chinese Cuisine increase or decrease during 2016? By how much? The owner's equity decreased during the year by $ 9000 Requirement 2. Identify the four possible reasons that owner's equity can change. Owner's equity can increase through: and/or 7 Owner's equity can decrease through v and/or borrowing money net income net loss owner contributions paying a liability purchasing assets for cash purchasing assets on account