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# Determine the missing amounts for each of the following:

Determine the missing amounts for each of the following:

a. ??? \$20,000 \$31,500
b. \$62,700 ??? \$10,000
c. \$57,000 \$38,000 ???

2. If total assets increased \$20,000 during a period and total liabilities increased \$12,000 during the same period, the amount and direction (increase or decrease) of the change in owners' equity for that period is

a. \$32,000 increase
b. \$32,000 decrease
c. \$8,000 increase
d. \$8,000 decrease

a. ??? \$20,000 \$31,500 Answer: 51,500 (assets = liabilities + owner equity)
b. \$62,700 ??? \$10,000 Answer: 52,700
c. \$57,000 \$38,000 ??? Answer: 19,000

If total assets increased \$20,000 during a period and total liabilities increased \$12,000 during the same period, the amount and direction (increase or decrease) of the change in owners equity for that period is

#### Solution Preview

Determine the missing amounts for each of the following:

a. ??? \$20,000 \$31,500
b. \$62,700 ??? \$10,000
c. \$57,000 \$38,000 ???

2. If total assets increased \$20,000 during a ...

#### Solution Summary

Determine the missing amounts for each of the following:

a. ??? \$20,000 \$31,500
b. \$62,700 ??? \$10,000
c. \$57,000 \$38,000 ???

2. If total assets increased \$20,000 during a period and total liabilities increased \$12,000 during the same period, the amount and direction (increase or decrease) of the change in owners' equity for that period is

a. \$32,000 increase
b. \$32,000 decrease
c. \$8,000 increase
d. \$8,000 decrease