Below is balance sheet information for five independent situations.Calculate the answer to each.
1.A company reports total assets of $2,000 and total liabilities of $900.What is the amount of stockholders' equity?
2.A company reports total liabilities of $2,400 and stockholders' equity of $1,100.What is the amount of total assets?
3.A company reports total assets of $2,700 and total stockholders' equity of $700.What is the amount of total liabilities?
4.A company reports an increase in assets of $1,700 and an increase in liabilities of $400.What is the amount of the change in stockholders' equity?
5.A company reports an increase in liabilities of $300 and a decrease in stockholders' equity of $800.What is the amount of the change in total assets?
Correct Answer:
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