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What were the total assets and liabilities

Response to the following problem:

Campbell Soup Co. had the following assets and liabilities (in millions) as of August 2, 2009.

Assets $6,056

Liabilities 5,328

a. Determine the stockholders' equity of Campbell Soup as of August 2, 2009.

b. If assets increased by $220 million and liabilities increased by $22 million, what was the increase or decrease in stockholders' equity for the year ending August 1, 2010?

c. What were the total assets, liabilities, and stockholders' equity as of August 1, 2010?

d. Based upon your answer to (c), does the accounting equation balance?

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Accounting Basics: What were the total assets and liabilities

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Accounting Basics: What were the total assets and liabilities

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