If the Liabilities of a Business Increased $65,000 During a Period

question 30

Essay

If the liabilities of a business increased $65,000 during a period of time and equity in the business decreased $21,000 during the same period, would the assets of the business have increased or decreased? By what amount?

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Definitions:

Mesophyll Cells

Specialized cells in plant leaves where photosynthesis takes place.

Intercellular Spaces

Gaps or areas between individual cells within a tissue, which allow for the exchange of gases and the transfer of nutrients and waste.

Chloroplasts

Organelles found in plant cells and some algae that conduct photosynthesis, converting light energy, water, and carbon dioxide into oxygen and glucose.

Waxy Cuticle

A protective, hydrophobic layer found on the outer surface of plant leaves and stems, consisting mainly of waxes and lipids, which helps to reduce water loss.