During 2014, Sensa Corporation Incurred operating expenses amounting to $120,000

Question

During 2014, Sensa Corporation Incurred operating expenses amounting to $120,000 of which $75,000 was paid in cash; the balance will be paid during 2015 Which of the following is correct for tie 2014 year-end balance sheet? Assets decrease $120,000. liabilities increase $45,000. and stockholders' equity decreases $120,000. Stockholders' equity decreases $75,000 and assets decrease $75,000. Assets decrease $120,000 and stockholders' equity decreases $120,000. Stockholders' equity decreases $120,000. assets decrease $75,000. and liabilities Increase $45.000.

Explanation / Answer

Stockholder equity decreases $120000, assets decrease $75000 and liabilities increase $45000.

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