ACG HW1 - Chapter1Homework AfifePerez Prof.Blanco EX14...

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Chapter 1 Homework Afife Perez Prof. Blanco EX 1-4 Accounting Equation The total assets and total libailites of Coca Cola and PepsiCo are shown below: Determine the stockholders' equity of each company. Assets - Liabilites = Stockholders Equity Coca Cola PepsiCo (in millions) (in millions) Assets $31,327  $27,987  Liabilities $15,392  $14,415  Stockholders Equity $15,935  $13,572  EX 1-8 Asset, Liability Stockholders' equity items. Indicate whether each of the following is identified with (1) an asset, (2) a liability, or  (3) stockholder's equity (retained earnings). a) Land Asset b) Wage Expense Stockholders Equity c) Accounts Payable Liability d) Fees Earned Stockholders Equity e) Supplies Asset f) Cash Asset EX1-9 Effect of transtactions on accounting expansion. Describe how the folloqing business transactions affect the three elements of the  accounting equation.
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