Question

Below are approximate amounts related to balance sheet information reported by five companies in previous years.

1. ExxonMobil reports total assets of $196 billion and total liabilities of $91 billion.
2. Citigroup reports total liabilities of $1,340 billion and stockholders' equity of $94 billion.
3. Amazon reports total assets of $3.1 billion and total stockholders' equity of $0.14 billion.
4. Nike reports an increase in assets of $1.04 billion and an increase in liabilities of $0.3 billion.
5. Kellogg reports a decrease in liabilities of $0.40 billion and an increase in stockholders' equity of $0.02 billion.

Required:
a. What is the amount of stockholders' equity of ExxonMobi?
b. What is the amount of total assets of Citigroup?
c. What is the amount of total liabilities of Amazon.com?
d. What is the amount of the change in stockholders' equity of Nike?

Answer 1

a. The amount of stockholders' equity of ExxonMobil is $105 billion.

b. The amount of total assets of Citigroup is $1,434 billion

c. The amount of total liabilities of Amazon.com is $2.96 billion.

d. The amount of the change in stockholders' equity of Nike is $0.74 billion

Step-by-step explanation:

We will the accounting equation to answer the question

Accounting Equation

Total Assets = Total Equity + Total Liabilities

a.

ExxonMobil

Where

Total assets = $196 billion

Total liabilities = $91 billion

Placing values in the equation

$196 billiom = Total Equity + $91 billion

Total Equity = $196 - $91 billion

Total Equity = $105 billion

b.

Citigroup

where

Total liabilities = $1,340 billion

Stockholders' equity = $94 billion

Placing values in the equation

Total Assets = $94 billion + $1,340 billion

Total Assets = $1,434 billion

c.

Amazon.com

Where

Total assets = $3.1 billion

Total stockholders' equity = $0.14 billion

placing values in the equation

$3.1 billion = $.14 billion + Total Liabilities

Total Liabilities = $3.1 billion - $.14 billion

Total Liabilities = $2.96 billion

d.

Nike

Change in Assets = Change in equity + Change in liabilities

Where

Increase in assets = $1.04 billion

Increase in liabilities = $0.3 billion

Placing values in the equation

$1.04 billion = Change in equity + $0.3 billion

Change in equity = $1.04 billion - $0.3 billion

Change in equity = $0.74 billion