If Total Liabilities Increased by $15,000 and Owner's Equity Increased

question 67

Multiple Choice

If total liabilities increased by $15,000 and owner's equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?

• A) $20,000 decrease
• B) $20,000 increase
• C) $25,000 increase
• D) $30,000 increase