Question

he total assets and total liabilities of Pat's Coffee & Tea Inc. and Pam's Corporation are...

he total assets and total liabilities of Pat's Coffee & Tea Inc. and Pam's Corporation are shown below.

Pat's Coffee & Tea Inc. (in millions) Pam's Corporation (in millions)
Assets $51,564 $50,017
Liabilities 22,688 24,008

Determine the owners' equity of each company.

Pat's Coffee & Tea Inc. owners' equity
Pam's Corporation owners' equity
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Answer #1

Answer:

the owners' equity of each company.

Owner's equity

Pat's Coffee &
Tea Inc. (in millions)

28,876

Pam's Corporation (in millions)

26,009

Working notes for the answer

In the balance sheet

Total assets = total Liability

we further bifurcate this formula as under

Total assets = total Liability + share holders equity

So if we want to find out the share holders equity, we can get as under

share holders equity= Total assets - total Liability

Pat's Coffee &
Tea Inc. (in millions)

Pam's Corporation (in millions)

Total Assets (A)

51,564

50,017

Less:

Total Liability (B)

22,688

24,008

Share holder's Equity (A-B)

28,876

26,009
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