The Walt Disney Company (DIS) had the following assets and liabilities (in millions) at the end of Year 1. $92,033 44,710 Assets Liabilities a. Determine the stockholders' equity of Walt Disney at the end of Year 1. million b. If assets increased by $3,756 million and stockholders' equity decreased by $2,319 million, what was the increase or decrease in liabilities for Year 2? million increase c. What were the total assets, liabilities, and stockholders' equity at the end of Year 2? Total assets million Total liabilities Total stockholders' equity d. Based upon your answer to (c), does the accounting equation balance? Yes million million
The Walt Disney Company (DIS) had the following assets and liabilities (in millions) at the end of Year 1. $92,033 44,710 Assets Liabilities a. Determine the stockholders' equity of Walt Disney at the end of Year 1. million b. If assets increased by $3,756 million and stockholders' equity decreased by $2,319 million, what was the increase or decrease in liabilities for Year 2? million increase c. What were the total assets, liabilities, and stockholders' equity at the end of Year 2? Total assets million Total liabilities Total stockholders' equity d. Based upon your answer to (c), does the accounting equation balance? Yes million million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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D1.

Transcribed Image Text:Accounting Equation
The Walt Disney Company (DIS) had the following assets and liabilities (in millions) at the end of Year 1.
Assets
Liabilities
a. Determine the stockholders' equity of Walt Disney at the end of Year 1.
$
million
$92,033
44,710
b. If assets increased by $3,756 million and stockholders' equity decreased by $2,319 million, what was the increase or decrease in liabilities for Year 2?
million increase
$
c. What were the total assets, liabilities, and stockholders' equity at the end of Year 2?
Total assets
Total liabilities
$
million
million
Total stockholders' equity
d. Based upon your answer to (c), does the accounting equation balance?
Yes
million
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