Chapter 2 Basic Accounting Systems: Cash Basis E2-2 Accounting equation The Walt Disney Company (DIS) had the following assets and liabilities Gn millions) at the end of Year 1 . Assets Liabilities $84,141 39,183 a. Determine the stockholders' equity of Walt Disney at the end of Year 1. . If assets increased by $4,041 million and stockholders' equity decreased by $433 million, what was the increase or decrease in liabilities for the Year 2? What were the total assets, liabilities, and stockholders' equity at the end of Year 2? . Based upon your answer to (e), does the accounting equation balance? 2-3 Accounting equation ampbell Soup Co. (CPB) had the following assets and liabilities (in millions) at the end of ar 1 Assets Liabilities $8,113 6,498 Determine the stockholders' equity of Campbell Soup at the end of Year 1. If assets decreased by $24 million and liabilities increased by $211 million, what was the increase or decrease in stockholders' equity for the Year 2? What were the total assets, liabilities, and stockholders' equity at the end of Year 2? Based upon your answer to (c), does the accounting equation balance? 4 Accounting equation following are recent year summaries of balance sheet and income statement data (ir ions) for Apple Inc. (AAPL) and Verizon Communications (VZ) Apple Verizon Year 1: $231,839 Assets Liabilities Stockholders' equity $38,836 Increase (Decrease) in assets, liabilities, and stockholders' equity during Year 2: Assets Liabilities $58,640 50,832 $(14,852) Chapter 2 Basic Accounting Systems: Cash Basis E2-2 Accounting equation The Walt Disney Company (DIS) had the following assets and liabilities Gn millions) at the end of Year 1 . Assets Liabilities $84,141 39,183 a. Determine the stockholders' equity of Walt Disney at the end of Year 1. . If assets increased by $4,041 million and stockholders' equity decreased by $433 million, what was the increase or decrease in liabilities for the Year 2? What were the total assets, liabilities, and stockholders' equity at the end of Year 2? . Based upon your answer to (e), does the accounting equation balance? 2-3 Accounting equation ampbell Soup Co. (CPB) had the following assets and liabilities (in millions) at the end of ar 1 Assets Liabilities $8,113 6,498 Determine the stockholders' equity of Campbell Soup at the end of Year 1. If assets decreased by $24 million and liabilities increased by $211 million, what was the increase or decrease in stockholders' equity for the Year 2? What were the total assets, liabilities, and stockholders' equity at the end of Year 2? Based upon your answer to (c), does the accounting equation balance? 4 Accounting equation following are recent year summaries of balance sheet and income statement data (ir ions) for Apple Inc. (AAPL) and Verizon Communications (VZ) Apple Verizon Year 1: $231,839 Assets Liabilities Stockholders' equity $38,836 Increase (Decrease) in assets, liabilities, and stockholders' equity during Year 2: Assets Liabilities $58,640 50,832 $(14,852)
