ExxonMobil reports total assets of $198 billion and total liabilities of $92 billion. Citigroup reports total liabilities of $1,350 billion and stockholders' equity of $95 billion. Amazon reports total assets of $3.2 billion and total stockholders' equity of $0.15 billion. Nike reports an increase in assets of $1.05 billion and an increase in liabilities of $0.4 billion. Kellogg's reports a decrease in liabilities of $0.39 billion and an increase in stockholders' equity of $0.03 billion. (Enter your answers in billions rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.) Required: What is the amount of stockholders' equity of ExxonMobil

Answers with its Explanation:

The fundamental accounting equation would be used to calculate the stockholder's equity, which is given as under:

Stockholder's Equity = Assets - Liabilities

For ExxonMobil,

Stockholder's Equity = $198 Billion - $92 Billion = $102 Billion

Likewise for CitiGroup,

Assets = $1,350 Billion + $95 Billion = $1,445 Billion

Likewise for Amazon,

Total Liabilities = $3.2 Billion - $0.5 Billion = $2.7 Billion

For Nike, we will use the following formula to calculate the change in shareholder's equity for the year:

Change in Stockholder's Equity = Change in Asset - Change in Liabilities

Change in Stockholder's Equity = $1.05 Billion - $0.4 Billion = $1.01 Billion

For Kellogg, we will use the following formula to calculate the change in Company's assets for the year:

Change in Total Assets = Change in Liabilities - Change in Stockholder's Equity

Change in Total Assets = $0.39 Billion - $0.03 Billion = $0.36 Billion