Accounting Equation The following are recent year summaries of balance sheet and income statement data (in millions) for Apple Inc. (AAPL) and Verizon Communications (VZ). Determine the missing amounts. Enter decreases as negative amounts. Apple Verizon Year 1: Assets $98,347 $ Liabilities 2$ $ Stockholders' equity $147,750 Increase (Decrease) in assets, liabilities, and stockholders' equity during Year 2: Assets $25,029 Liabilities 4,792 $(19,482) Stockholders' equity 20,237 Year 2: Assets $391,784 Liabilities $24,529 Stockholders' equity $ 146,044

Accounting Equation The following are recent year summaries of balance sheet and income statement data (in millions) for Apple Inc. (AAPL) and Verizon Communications (VZ). Determine the missing amounts. Enter decreases as negative amounts. Apple Verizon Year 1: Assets $98,347 $ Liabilities 2$ $ Stockholders' equity $147,750 Increase (Decrease) in assets, liabilities, and stockholders' equity during Year 2: Assets $25,029 Liabilities 4,792 $(19,482) Stockholders' equity 20,237 Year 2: Assets $391,784 Liabilities $24,529 Stockholders' equity $ 146,044

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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