If Assets Increased By $8,000 And The Total Liabilities Decreased By $2,000 During The Accounting Period, What Is The Change In The Owner's Equity Amount? | Multiple Choice Question
The correct answer of this multiple choice question (MCQ) is (C). Explanation: Here, Increase In Assets = $8000, Decrease In Total Liabilities = $2000 Find: Change In Owner's Equity = ? As we know that Accounting Equation shows the equality of total of Assets with the equality of total Liabilities plus Owner’s Equity. In equation form, we have: Assets = Liabilities + Owner’s Equity +$8000 = -$2000 + Owner’s Equity Change / Increase In Owner’s Equity Amount = +$8000 +...