[niccole]

I'm trying to figure out if the total assets increased or decreased and by how much with the following info. The company began the current year with assets of 250,000 and liabilities of 170,000. During the year stockholders equity increased by 50,000 and liabilities decreased by 20,000.
I think it increased by 50,000 because the equity increased by 50,000.

[yumesonata]

assets = equity + liabilities

current year equity = 250 000 - 170 000
= 80 000

during the year, equity increases 50 000, liabilities decreases 20 000

assets = (80 000 + 50 000) + (170 000 - 20 000)
= 280 000

therefore, assets increase by 30 000 (280 000 - 250 000)

[AdamUTsel]

Increased $30k.

Uses basic accounting equation A = L + OE