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Answer to Question #290798 in Finance for sherry

Question #290798

equity account increased by 1 million and liabilities fell by 2 million then assets would be what amount?


1
Expert's answer
2022-01-27T13:05:59-0500

Answer

Assets= liabilities + equity

Increase in equity by 1million and decrease in liabilities by 2 million resulted to decrease in assets by 1 million



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