During 2010, Gibson Company assets decreased $50,000 and its - 14308

Solution Posted by
yousafbhutta

yousafbhutta

Rating : (28)C
Solution Detail
Price: $0.50
  • From: Business,
  • Posted on: Tue 09 Oct, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

During 2010, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity:

 

decreased $40,000.

 

increased $140,000.

 

increased $40,000.

 

decreased $140,000.

Solution Description

 

During 2010, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity: