If total liabilities decreased by $14,000 during a period of time and shareholders' equity increased by $6,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n) :
A) $14,000 increase.
B) $20,000 increase.
C) $8,000 decrease.
D) $8,000 increase.
Correct Answer:
Verified
Q85: Profit results when
A)Assets > Liabilities.
B)Assets < Liabilities.
C)Revenues
Q89: Use the following information for questions
Kareem's
Q90: Which financial statement is prepared first?
A)Statement of
Q91: The accounting equation may be expressed as
A)Assets
Q92: Use the following information for questions
Kareem's
Q94: An income statement
A)summarizes the changes in retained
Q95: If the retained earnings account increases from
Q96: If total liabilities increased by $25,000 and
Q97: Dividends are reported on
A)the income statement.
B)the statement
Q98: A company's policy toward dividends and growth
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents