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Homework answers / question archive / 10
10.If total liabilities decreased by $23,767 during a period of time and stockholders' equity increased by $31,939 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is a
a.$23,767 increase
b.$23,767 decrease
c.$8,172 decrease
d.$8,172 increase
1.The correct option is D "$8,172 increase".
We know,
Total Assets = Total Liabilities + Total Stockholders' Equity
= - $23,767 + $31,939
Total Assets = $8,172 increase
