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What the amount and direction of the period change in total

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Problem 1: Equipment with an estimated market value of $30,000 is offered for sale at $45,000. The equipment is acquired for $14,000 in cash and a note payable of $23,000 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is

Problem 2: If total liabilities decreased by $46,000 during a period of time and stockholders' equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is

a. $106,000 increase
b. $14,000 increase
c. $14,000 decrease
d. $106,000 decrease

Reference no: EM132984893

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