Total Assets Increase Calculation - Exciting Financial News!

How much did total assets change by based on the given data?

a. $50,000 decrease

b. $20,000 increase

c. $20,000 decrease

d. $50,000 increase

Answer:

The increase in total assets is $50,000. Therefore, option (d) $50,000 increase is correct.

Equity increased by $15,000 and total liabilities increased by $35,000. To calculate the change in total assets, we need to add the increase in equity to the increase in total liabilities.

Total assets = Equity + Total liabilities

By adding the increase in equity and total liabilities, we get:

Total assets increase = $15,000 + $35,000 = $50,000

Therefore, the total assets increased by $50,000 based on the provided data.