During the Current Year, Liabilities of Corbett's Store Increased by $220,000

question 7

Multiple Choice

During the current year, liabilities of Corbett's Store increased by $220,000, and equity increased by $160,000 then

• A) Assets at the end of the year total $380,000.
• B) Assets at the end of the year total $60,000.
• C) Assets increased during the year by $380,000.
• D) Assets decreased during the year by $60,000.