United Airlines’ 2016 balance sheet reported the following (in millions) Total Assets $40,091 Total

1 answer
Question:

United Airlines’ 2016 balance sheet reported the following (in millions) Total Assets $40,091 Total Liabilities 31,485 Contributed Capital 3,573 What was United Airlines’ total liabilities and stockholders’ equity at December 31, 2016

Answers

United Airlines' total liabilities and stockholders' equity at December 31, 2016 was $40,091.

Explanation:

Total Assets $40,091

Total Liabilities 31,485

Contributed Capital 3,573

Total liabilities and stockholders' equity at December 31, 2016

Total Asset = Total Equity + Total Liabilities

$40,091 =  Total Equity + Total Liabilities

Hence it is proved that Total liabilities and stockholders' equity is $40,091.

Balance of Liabilities of 31,485 and equity 3,573 does not satisfy the accounting equation as their balance is $35,058 which is not equal to total assets. Some value from equity and liabilities are missing which causes the inequality.

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