Chapter $1$ Homework

Applying the Accounting Equation and Financial Statement Articulation

Answer the following questions. $($Hint: Apply the accounting equation.$)$

a$.$ Intel Corporation had assets equal to $$123,249$ million and liabilities equal to $$54,230$ million for a recent year$-$end What was the total equity for Intels business at year$-$end?

million What was its equity at the end of the year?

$$ million decreased $$4,944$ million during the year. What were its beginning and ending amounts for equity?

Beginning equity:

million

Ending equity: $

million