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I need to know if this is correct, if its not an explanation would be great :) I'm not an accounting student, just taking it for GE and I'm just confused.. Indicate where each tansaction causes an increase (+), decrease (-) or no change (NC) in assets, liabilities and equity (type of...
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If, during an accounting period, assets increased by $80,000. And owner's equity decreased by $15,000, what change occurred to the total liabilities? I answered a decreased o f$65,000. But I'm not sure Help please. Dell
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