Ask Question
25 June, 15:41

In its 2013 annual report, Snap-On Incorporated reported the following (in millions):

Current assets $1,796.2

Total shareholdersâ equity $2,130.4

Total liabilities $1,979.6

What did Snap-On report as total assets at year-end 2013?

a. $3,775.8 million

b. $1,796.2 million

c. $4,110.0 million

d. $3,926.6 million

e. None of the above

+3
Answers (1)
  1. 25 June, 17:18
    0
    Option (c) is correct.

    Explanation:

    Given that,

    Current assets = $1,796.2

    Total shareholders equity = $2,130.4

    Total liabilities = $1,979.6

    Accounting equation is as follows:

    Assets = Total liabilities + Total Stockholder's equity

    = $1,979.6 + $2,130.4

    = $4,110 million

    Therefore, the Snap-On report as total assets at year-end 2013 is $4,110 million.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In its 2013 annual report, Snap-On Incorporated reported the following (in millions): Current assets $1,796.2 Total shareholdersâ equity ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers