If liabilities decreased by 20,000$ and owner’s equity increased by 15,000$ then what is the total assets?
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Accounting Equation is represented as:
Owner's Equity+Liabilities= Assets
Say
10000+8000=18000
If assets increases by Rs.7000 and owner Equity decreases by Rs.3000, than
Rs.7000+Liabilities = Rs.25000
Therefore Liabilities =Rs.18000
Old balance of liabilities =Rs.8000
Hence, liabilities will increase by Rs.10000
THIS IS JUST AN EXAMPLE.
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