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  3. f the liabilities of a company increased $98,000 d

f the liabilities of a company increased $98,000 during a period of time and equity...

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Question

Accounting

f the liabilities of a company increased $98,000 during a period of time and equity in the company decreased $31,000 during the same period, what was the effect on the assets?

Multiple Choice

  • Assets would have increased $67,000.

  • None of the choices are correct.

  • Assets would have decreased $67,000.

  • Assets would have decreased $31,000.

  • Assets would have increased $31,000.

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