Question

Below are approximate amounts related to balance sheet information reported by five companies in previous years. 1. ExxonMobil reports total assets of $204 billion and total liabilities of $95 billion 2. Citigroup reports total liabilities of $1,380 billion and stockholders' equity of $98 billion. 3. Amazon.com reports total assets of $3.5 billion and total stockholders' equity of $0.18 billion. 4. Nike reports an increase in assets of $1.08 billion and an increase in liabilities of $0.4 billion. 5. Kellogg reports a decrease in liabilities of $0.36 billion and an increase in stockholders' equity of $0.03 billion. (Enter your answers in billions rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.) 10.5 points eBook Required: 1. What is the amount of stockholders' equity of ExxonMobil? References Stockholders' equity billion 2. What is the amount of total assets of Citigroup? Total assets billion b e the follabilities of Amazoncom

Answer 1

Answer -

1. Answer -

Stockholders equity = $109 billion

Calculation:

As we know,

Total assets = Total liabilities and stockholders’ equity

Or

Total assets = Total liabilities + Total stockholders’ equity

Therefore,

$204 billion = $95 billion + Total stockholders’ equity

Total stockholders’ equity = $204 billion - $95 billion

Total stockholders’ equity = $109 billion

2. Answer -

Total assets = $1478 billion

Calculation:

Total assets = Total liabilities + Total stockholders’ equity

So,

Total assets = $1380 billion + 98 billion

Total assets = $1478 billion

3. Answer -

Total liabilities = $3.32 billion

Calculation:

Total assets = Total liabilities + Total stockholders’ equity

Therefore,

$3.5 billion = Total liabilities + $0.18 billion

Total liabilities = $3.5 billion - $0.18 billion

Total liabilities = $3.32 billion

4. Answer -

Change in stockholders equity = $0.68 billion

Calculation:

As we know,

Change in assets = Change in liabilities + Change in stockholders equity

So,

Change in stockholders equity = Change in assets - Change in liabilities

Change in stockholders equity = $1.08 billion - $0.4 billion

Change in stockholders equity = $0.68 billion

Therefore,

Increase in stockholders equity of $0.68 billion

5. Answer -

Change in total assets = ($0.33 billion)

Calculation:

Change in assets = Change in liabilities + Change in stockholders equity

So,

Change in assets = ($0.36 billion) + $0.03 billion

Change in assets = ($0.33 billion)

Therefore,

Decrease in assets of $0.33 billion.

Note: Showing decreased amount by parentheses.