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
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

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
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1.The net assets of a corporation are equal to: Total assets - total liabilities. Total assets...
1.The net assets of a corporation are equal to: Total assets - total liabilities. Total assets + total liabilities. Total assets + retained earnings. Total assets - retained earnings. 2. Which statement is true about a stock split? A change in total stockholders' equity depends upon whether it is a 2-for-1 split or a 3-for-1 split. Total shareholders' equity decreases. Total shareholders' equity remains the same. Total shareholders' equity increases.
At the beginning of 2011, Bonds Company had total assets of $650,000 and total liabilities of...
At the beginning of 2011, Bonds Company had total assets of $650,000 and total liabilities of $390,000. Answer each of the following questions. 1. If total assets increased $60,000 and stockholders' equity decreased $90,000 during the year, determine the amount of total liabilities at the end of the year. 2. During the year, total liabilities decreased $75,000 and stockholders' equity increased $50,000. Compute the amount of total assets at the end of the year. 3. If total assets decreased $100,000...
Kingston Company reported total assets of $ 11 million and total liabilities of $ 4 million...
Kingston Company reported total assets of $ 11 million and total liabilities of $ 4 million at the end of 20 Upper X 0. Requirements 1. Construct the balance sheet equation for Kingston Company at the end of 20 Upper X 0 and include the correct amount for​ owners' equity. 2. Suppose that during January 20 Upper X 1 Kingston borrowed $ 2 million from Constellation Bank. How would this affect Kingston's ​assets, liabilities, and​ owners' equity?
Schumacher Corporation had $1,000 in total assets, $800 in total debt (liabilities) and $200 in total...
Schumacher Corporation had $1,000 in total assets, $800 in total debt (liabilities) and $200 in total equity at the end of 2018, and in 2019 it generated 1,500 in sales, $500 in EBIT and $150 in net income. The company did not distribute any 2019 net income. What was Schumacher’s return on equity in 2019 Calculate Schumacher’s change in leverage from 2018 to 2019 and describe the effect on its probability of financial distress
Feiler Corporation has total current assets of $515,000, total current liabilities of $379,000, total stockholders' equity...
Feiler Corporation has total current assets of $515,000, total current liabilities of $379,000, total stockholders' equity of $1,089,000, total plant and equipment (net) of $1,063,000, total assets of $1,578,000, and total liabilities of $489,000. The company's current ratio is closest to: Multiple Choice a. 0.78 b. 1.05 c. 1.36 d. 2.17
At the beginning of the year Unique Ltd. had total assets of $623,000 and total liabilities...
At the beginning of the year Unique Ltd. had total assets of $623,000 and total liabilities of $349,000. During the year Unique collected new contributions by owners of $21,000, paid dividends of $14,000 and had total expenses of $362,000. At the end of the year Unique has total assets of $672,000 and total equity of $377,000. What was the company's beginning total equity? What is the total revenues earned during the year? What was the change in liabilities during the...
The total assets and liabilities of Robot Company at January 1 and December 31, 2018, are...
The total assets and liabilities of Robot Company at January 1 and December 31, 2018, are presented below.                                                                         January 1                    December 31 Assets                                                  $76,000                        $112,000 Liabilities                                             26,000                            28,800 Determine the amount of net income or loss for 2018, applying each of the following assumptions concerning the additional issuance of stock and dividends paid by the firm. Each case is independent of the others. I will go over scenario 1 below. Your discussion assignment for the week is to...
On January 1, 20X3, Guild Corporation reported total assets of $475,000, liabilities of $262,000, and stockholders’...
On January 1, 20X3, Guild Corporation reported total assets of $475,000, liabilities of $262,000, and stockholders’ equity of $213,000. At that date, Bristol Corporation reported total assets of $188,000, liabilities of $127,000, and stockholders’ equity of $61,000. Following lengthy negotiations, Guild paid Bristol’s existing shareholders $51,850 in cash for 85 percent of the voting common shares of Bristol. Required: Immediately after Guild purchased the Bristol shares a. What amount of total assets did Guild report in its individual balance sheet?...
If Total Assets are $3,500 and Total Liabilities is $2,500 then what is the value of...
If Total Assets are $3,500 and Total Liabilities is $2,500 then what is the value of Total Equity? Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question. Ruston Company Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 2,100 Liabilities 2,500 Other Assets 3,100 Equity 2,700 Total Assets 5,200 Total Liabilities & Equity 5,200 Between January 1 and March 31, 2020: 1. Other Assets decrease by...
At the beginning of the year, Sarasota Company had total assets of $942,000 and total liabilities...
At the beginning of the year, Sarasota Company had total assets of $942,000 and total liabilities of $597,000. Answer the following questions. (a) If total assets increased $130,000 during the year and total liabilities decreased $88,000, what is the amount of stockholders’ equity at the end of the year? Stockholders’ equity (b) During the year, total liabilities increased $128,000 and stockholders’ equity decreased $86,000. What is the amount of total assets at the end of the year? Total assets $...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT