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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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**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.
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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