Below Is Balance Sheet Information for Five Independent Situations

question 107

Essay

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?

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Definitions:

Natural Resources

Assets occurring in nature, such as mineral deposits, timber tracts, oil, and gas

Tangible Assets

Physical assets that hold value, such as land, buildings, vehicles, equipment, and inventory.

Operating Rights

The granted permissions or authorizations for a company to conduct specific operations within a regulatory or legal framework.

Natural Resources

Physical or material resources occurring in nature that can be used for economic gain, such as water, timber, coal, oil, and minerals.