Mg + O2 > MgO. In reactant side, 2 O atoms and 1 Mg are present. In product side, 1 Mg and O atoms are present. Put 2 in product side to balance O atoms and 2 at Mg in reactant side to balance Mg atoms. Therefore the balanced equation becomes, 2Mg + O2 ----> 2MgO. Hope it helps.