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(a) This sentence and this sequence of maneuvering mathematically is translated into this formula for the elevation
elevation = -750 - 300 + 550 - 425 = my calculation = -925,
exactly as your son got it.
Initial elevation of -750 ft below the sea level is given.
Descending 300 ft means subtracting 300 ft from the current elevation to get new elevation.
Ascending 550 ft means adding 550 ft to the current elevation to get new elevation.
So far everything is very natural.
(b) The submarine descended from the level of -925 ft to the ocean floor at the elevation -2250 ft.
How far it descended ?
Intuitively, it is clear: it descended 2250 - 925 = 1325 ft (use your common sense).
If you (or your son, or the teacher) wants use mathematic expression (equation) at this point,
he can write -925 - descending = -2250, which gives
-925 + 2250 = descending, or
descending = -925 + 2250 = 1325 ft (the correct answer).
Memorize it: descending X ft means new_level = old_level - X feet;
ascending X ft means new_level = old_level + X feet.
Hope it helps.