Question

If total liabilities increased by $77000 during a period of time and stockholders’ equity decreased by $43500 during the same period, then the amount and direction (increase or decrease) of the period’s change in total assets is a(n)

Answer 1

Answer: Assets increased by $33,500

Step-by-step explanation:

Assets = Liabilities + Equity

Liabilities increased by $77,000

Equity decreased by $43,500

Difference = 77,000 - 43,500

= $33,500

Assets increased by $33,500