If Total Liabilities Decreased By $49,600 And Stockholders' Equity Increased By $29,500 During A Period Of Time, Then Total Assets Must Change By What Amount And Direction During That Same Period?

The correct answer is (b). $20100 decrease as decrease in total liabilities by $49600 plus increase in Stockholders’ Equity or owner’s equity ($29500) equal to $20100 decrease in total assets during the same accounting period as shown from below Accounting Equation:

              Assets                    =      Liabilities      +     Stockholders’ Equity
 
Change In Total Assets      =        -$49600       +          (+$29500)
 
Change / Decrease In Total Assets = $20100 Decrease