On January 1, 2010, Total Assets for Liftoff Technologies Were

question 49

Multiple Choice

On January 1, 2010, total assets for Liftoff Technologies were $125,000; on December 31, 2010, total assets were $145,000. On January 1, 2010, total liabilities were $110,000; on December 31, 2010, total liabilities were $115,000. What is the amount of the change and the direction of the change in Liftoff Technologies' stockholders' equity for 2010?

• A) Decrease of $15,000.
• B) Increase of $15,000.
• C) Increase of $30,000.
• D) Decrease of $30,000.

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