Topics, 100 Accounting Resources, 100 Lecture List
13. What is the effect on assets if liabilities increase by 60,000 and equity decreases by 20,000?
a. Increase by 70,000
b. Decrease by 70,000
c. Increase 40,000
d. Decrease 40,000
e. Increase 60,000
Recommendations – Write down the accounting equation. Plug in the adjustments to the equation. Solve for assets.
Answer
C
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