The assets and liabilities (in millions) of Campbell Soup Co. as of July 29, 2000, were as follows:
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The assets and liabilities (in millions) of Campbell Soup Co. as of July 29, 2000, were as follows:
Assets
$5,196
Liabilities
5,059
a. Determine the stockholders’ equity of Campbell Soup as of July 29, 2000.
b. If assets increased by $731 and liabilities increased by $1,115, what was the increase or decrease in stockholders’ equity for the year ending July 29, 2001?
c. What were the total assets, liabilities, and stockholders’ equity as of July 29, 2001?
d. Based upon your answer to (c), does the accounting equation balance?
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