The total assets and total liabilities (in millions) of ABC Corporation and XYZ Corporation follow: АВС XYZ Assets $48,207 $46,761 Liabilities 21,211 22,445 Determine the stockholders' equity of each company. ABC Corporation stockholders' equity million XYZ Corporation stockholders' equity million
The total assets and total liabilities (in millions) of ABC Corporation and XYZ Corporation follow: АВС XYZ Assets $48,207 $46,761 Liabilities 21,211 22,445 Determine the stockholders' equity of each company. ABC Corporation stockholders' equity million XYZ Corporation stockholders' equity million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![**Accounting Equation**
The total **assets** and total **liabilities** (in millions) of **ABC Corporation** and **XYZ Corporation** follow:
| | **ABC** | **XYZ** |
|------------------|-----------|-----------|
| **Assets** | $48,207 | $46,761 |
| **Liabilities** | 21,211 | 22,445 |
Determine the **stockholders' equity** of each company.
**ABC Corporation stockholders' equity**: $______ million
**XYZ Corporation stockholders' equity**: $______ million
**Explanation:**
To find the stockholders' equity for each corporation, use the formula:
\[ \text{Stockholders' Equity} = \text{Assets} - \text{Liabilities} \]
You can fill in the values to calculate the equity for both ABC and XYZ Corporations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd210f98b-1208-4eea-a54e-043fbbd49724%2Fda86c594-cb84-4d22-a722-39ae479a428b%2Fj9b02ch_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Accounting Equation**
The total **assets** and total **liabilities** (in millions) of **ABC Corporation** and **XYZ Corporation** follow:
| | **ABC** | **XYZ** |
|------------------|-----------|-----------|
| **Assets** | $48,207 | $46,761 |
| **Liabilities** | 21,211 | 22,445 |
Determine the **stockholders' equity** of each company.
**ABC Corporation stockholders' equity**: $______ million
**XYZ Corporation stockholders' equity**: $______ million
**Explanation:**
To find the stockholders' equity for each corporation, use the formula:
\[ \text{Stockholders' Equity} = \text{Assets} - \text{Liabilities} \]
You can fill in the values to calculate the equity for both ABC and XYZ Corporations.
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