Haley M.

asked • 02/05/21

Do liabilities and equity decrease your assets or do they increase them?

for example, If total liabilities increased by $15,000 and owner’s equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?

in would be 20,00- dollars but dies the total assets increase by 20000 or decrease by 20000


1 Expert Answer

By:

Alexandra L. answered • 02/16/21

Tutor
New to Wyzant

Recent graduate and Big 4 Accoutant

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