Homework Answers
1.
Total assets = $18,400
Total liabilities = $9,050
Total assets = Total liabilities + Equity
18,400 = 9,050 + Equity
Equity = $9,350
2.
Increase in assets = $4,300
Assets will become = 18,400 + 4,300
= $22,700
Decrease in equity = $3,850
Equity will become = 9,350 - 3,850
= $5,500
Total assets = Total liabilities + Equity
22,700 = Total liabilities + 5,500
Total liabilities = $17,200
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