Question

Campbell Soup Co. had the following assets and liabilities (in millions) at the end of 20Y1.
Assets ...... $6,862
Liabilities ... 5,774
a. Determine the stockholders’ equity of Campbell Soup at the end of 20Y1.
b. If assets decreased by $332 million and liabilities decreased by $142 million, what was the increase or decrease in stockholders’ equity for the year 20Y2?
c. What were the total assets, liabilities, and stockholders’ equity at the end of 20Y2?
d. Based upon your answer to (c), does the accounting equation balance?



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  • CreatedMarch 11, 2014
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