Below are approximate amounts related to balance sheet information reported by f

Question

Below are approximate amounts related to balance sheet information reported by five companies in previous years. 1. ExxonMobil reports total assets of $228 billion and total liabilities of $107 billion. 2. Citigroup reports total liabilities of $1,500 billion and stockholders' equity of $110 billion. 3. Amazon.com reports total assets of $4.7 billion and total stockholders' equity of $0.3 billion. 4. Nike reports an increase in assets of $1.2 billion and an increase in liabilities of $0.3 billion. 5. Kellogg reports a decrease in liabilities of $0.34 billion and an increase in stockholders' equity of $0.02 billion. (Enter your answers in billions rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.) Required: 1. What is the amount of stockholders' equity of ExxonMobi? 2. What is the amount of total assets of Citigroup? 3. What is the amount of total liabilities of Amazon.com? 4. What is the amount of the change in stockholders' equity of Nike? 5. What is the amount of the change in total assets of Kellogg? Hints References Beok & Resources Check my work

Explanation / Answer

1)

stockholders' equity = total assets - total liabilities = $228 - $107 billion = $121 billion

2)

total assets = stockholders' equity + total liabilities = $110 billion + $1500 billion = $1610 billion

3)

total liabilities = total assets - stockholders' equity = $4.7 billion - $0.3 billion = $4.4 billion

4)

change in stockholders' equity = increase in assets - increase in liabilities = 1.2 billion - 0.3 billion = $0.9 billion

5)

change in total assets = increase in stockholders' equity - decrease in liabilities = 0.02 billion - 0.34 billion = - $0.32 billion

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.