Solution:Balanced Equation : 2Mg + O₂ → 2MgO. Skeletal chemical equations are described as chemical equations that are not balanced. Chemical Reactions - In this reaction, the bonds are broken within reactant molecules, and new bonds are formed within product molecules in order to form a new substance. Types of reactions - Combustion, Decomposition, Neutralization, Redox, Precipitation or Double-Displacement Synthesis.