Description of this paper

Total Liabilities increase by $7,000. How is the accounting equation affected?

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solution


Question

Total Liabilities increase by $7,000. How is the accounting equation affected? answer A, B, C or D.;a) Assets must have increased by $7,000 or owner's equity must have decreased by $7,000;b) Assets must have decreased by $7,000;c) Assets and owner's equity must have each decreased by $3,500;d) Owner's equity must have increased by $7,000

 

Paper#27413 | Written in 18-Jul-2015

Price : $22
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