What was the amount of the change in liabilities during the year?

Name: What was the amount of the change in liabilities during the year?
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Question

Quizplus · Accepted Answer

The change in liabilities can be calculated by subtracting the beginning balance of liabilities ($200,000) from the ending balance of liabilities ($270,000).

Ending liabilities - Beginning liabilities = Change in liabilities
$270,000 - $200,000 = $70,000

Therefore, the amount of the change in liabilities during the year was an increase of $70,000 (Choice C).

What Was the Amount of the Change in Liabilities During