If the liabilities of a business increased $86,000 during a period of time and equity in the business decreased $23,000 during the same period, enter the appropriate amounts reflecting this activity in the accounting equation format shown below.
$$\begin{array} { | c | c | c | }
\hline \text { Assets } = & \text { Liabilities } + & \text { Equity } \
\hline & & \
\hline
\end{array}$$

Question

If the liabilities of a business increased $86,000 during a period of time and equity in the business decreased $23,000 during the same period, enter the appropriate amounts reflecting this activity in the accounting equation format shown below.
 $$\begin{array} { | c | c | c | } 
\hline \text { Assets } = & \text { Liabilities } + & \text { Equity } \
\hline & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of If the liabilities of a business increased $86,000 during a period of time and equity in the business decreased $23,000 during the same period, enter the appropriate amounts reflecting this activity in the accounting equation format shown below.
 $$\begin{array} { | c | c | c | } 
\hline \text { Assets } = & \text { Liabilities } + & \text { Equity } \
\hline & & \
\hline
\end{array}$$

If the Liabilities of a Business Increased $86,000 During a Period