During the current year, Sue Shells, Inc.'s total liabilities decreased by $25,800 and stockholders' equity increased by $4600. By what amount and in what direction did Sue's total assets change during the same time period?
A. $30,400 increase.
B. $30,400 decrease.
C. $21,200 decrease.
D. $21,200 increase.
Answer: C
You might also like to view...
The face amount of a note that is promised to be paid at maturity is called the
a. rate of interest. b. principal of the note. c. time of the note. d. discount of the note.
Which of the following is not true about goodwill?
a. Goodwill reflects the value of knowledgeable employees. b. Goodwill reflects the value of a reputation for quality products. c. Under IFRS, goodwill has an indefinite life, and firms do not amortize the amount recognized as goodwill. d. Firms must test goodwill annually for a loss in value. e. Under U.S. GAAP, goodwill has an indefinite life, and firms amortize the amount recognized as goodwill.
Mind mapping is a spider diagram that gives a nonlinear picture of the project tasks and sequencing.
a. True b. False
You have been accepted into a prestigious private university in Southern California - congratulations! Since no one from this school has ever graduated in only four years, you anticipate that you will need to make 10 semi-annual tuition payments of
$25,000 each with the first cash flow six months from today. If you choose to discount these cash flows at an annual rate of 6%, what is the present value cost of tuition to attend your university of choice? A) $186,814.54 B) $184,002.18 C) $250,000.00 D) $213,255.07