Question 25 (1 point) If a company records an expenditure made this period as an expense, when it should have been recorded as an asset, net income will be overstated in the current period as a result. True False Prepaid Services and a credit to Cash for $18,000. 12 Question 21 (1 point) A company began the year with assets of $111,000, liabilities of $25,500, and stockholders' equity of $85,500. During the year assets increased $56,100 and stockholders' equity increased $22,200. What was the change in liabilities for the year? 15 8 Increase of $78,300 Increase of $33,900 Decrease of $78,300 1 Decrease of $33.900 Question 22 (1 point) Saved The book value of equipment is equal to which of the following