If total assets decreased by $49,029 during a period of time and stockholders' equity increased by $27,095 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is

The change in total liabilities of the period is decrease of $76,124

Explanation:

The change in total liabilities of the period is computed as using the accounting equation of the Accounts which is as:

Assets = Liabilities + Stockholders' equity

where

Assets decrease so, it will be -$49,029

Stockholders' equity increased so, it will be +$27,095

So, putting the values above:

-$49,029 = Liabilities + (+$27,095)

Liabilities = - $27,095 - $49,029

Liabilities = -$76,124

Therefore, the change in the total liabilities is decrease of $76,124

answer; /// i believe the correct answer is first in, first out(fifo); //