If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period? $10,000 increase $20,000 increase $15,000 decrease $10,000 decrease

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Stella Wu

Business

26 January, 18:37

If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period? $10,000 increase $20,000 increase $15,000 decrease $10,000 decrease

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Brooklynn Parsons · Answer 1

If we take into account the decrease of liabilities by $15,000 and the increase of stockholders’ equity by $5,000 during a set period of time, there should be a $15,000 increase in the total assets during that same period of time.