If total liabilities increased by $¥ 21,000$ during a period of time and equity decreased by $¥ 9,000$ during the same period, then the amount and direction of the period's change in total assets is a(n)

Question

Quizplus · Accepted Answer

According to the accounting equation (Assets = Liabilities + Equity), if liabilities increase by ¥21,000 and equity decreases by ¥9,000, the net effect on assets is an increase of ¥12,000.

If Total Liabilities Increased By ¥21,000¥ 21,000¥21,000 During a Period of Time and Equity Decreased By

If Total Liabilities Increased By $¥ 21,000$ During a Period of Time and Equity Decreased By