By what amount and direction during that same period

Assignment Help Accounting Basics
Reference no: EM131778847

Question - 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?

A)$10,000 increase

b)$20,000 increase

c)$10,000 decrease

d)$15,000 decrease

Reference no: EM131778847

Questions Cloud

Inventory control system to control its stock level : Weiss's paint store uses a (Q, R) inventory control system to control its stock level.
Department of social services in your state government : Imagine that you are an administrative assistant to the director of the department of Social Services in your state government.
How much was harold net income : Accounts receivable $ 5,000 Sales revenue 75,000 Cash 15,000 Salaries and wages expense 20,000 Rent expense 10,000 How much was Harold's net income
Define leadership and include three key leadership styles : Define leadership and include 3 key leadership styles, 3 leadership theories and the complexities of being a leader.
By what amount and direction during that same period : If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000, by what amount and direction during that same period
What is the mean and variance of the demand in lead time : QQ-Mart is a local grocery store. It sells a certain type of cheese. What is the mean and variance of the demand in lead time?
Describe the characteristics of the uninsured in your state : Describe the characteristics of the uninsured in your state. Discuss potential benefits and risks to both the employer and the employee.
Emission systems monitoring instrument : They have been arguing that a new piece of equipment, an Emission Systems Monitoring Instrument (ESMI),
More costly than working with unionized labor : Do you think the employee relations practices you've mentioned are less costly or more costly than working with unionized labor?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculating the amount of interest paid

A company reported interest expense of $580,000 for the year. Interest payable was $30,000 and $70,000 at the beginning and the end of the year, respectively. What was the amount of interest paid? $540,000. $650,000. $610,000. $620,000.

  Storm occurrence services sos offers services to secure

storm occurrence services sos offers services to secure houses and properties when major storms are forecast for an

  Critically evaluate implementation of the balanced scorecard

Critically evaluate M&R's implementation of the balanced scorecard. Identify any strengths and weaknesses of the program

  Explain how cedar rapids follows the government accounting

Explain how Cedar Rapids follows the Government Accounting Standards Board (GASB) Statement No. 34

  A cash-strapped young professional offers to buy your car

a cash-strapped young professional offers to buy your car with four equal annual payments of 3000 beginning two years

  What are the correct amounts for cost of goods

What are the correct amounts for cost of goods sold and gross profit - Effect of an inventory error-one year only

  The income statement for the current year

The adjusting entry for accrued fees was omitted at March 31, the end of the current year. Indicate which items will be in error, because of the omission, on

  Creating lowest overall combined tax liability

Mary (Who is single with no dependants and who does not itemize) owns 100% of Beezer Tweezer Co, which is organized as a C-Corporation. Beezer Tweezer has $400,000 of taxable income in 2011 and Mary has $34,500 of outside taxable income before any..

  Define the control procedures

What control procedures can be used to achieve control over computer operations in an end-user computing environment?

  Guidelines for recognizing revenue

The earning of revenue by a business enterprise is recognized for accounting purposes when the transaction is recorded. In some situations, revenue is recognized approximately as it is earned in the economic sense. In other situations, however, ac..

  Accounting standards for business combinations

Accounting standards for business combinations: What is the history for accounting for business combinations? Identify and discuss the Financial Accounting Standards (FAS) that govern business combinations and consolidations? Evaluate the reasons ..

  What are some of the strategic and operational objectives

What are some of the strategic and operational objectives for planning for the audit? What are different risk assessments you need to consider during an audit process?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd