None Inspirational Co. is a motivational consulting business. At theend of its accounting period, December 31, 2017, Inspirationalhas assets of $567,480 and liabilities of $179,320. Determine theStockholders' equity as of December 31, 2018, assuming thatassets decreased by $44,830 and liabilities increased by $15,890during 2018.

Explanation: As per accounting equation: Assets = Liabilities + Stockholders' equity. So,…

Answered: Inspirational Co. is a motivational…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 54CE

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Accounting equationInspirational Inc. is a motivational consulting business. At the end of itsaccounting period, October 31, 2017, Inspirational has assets of$5,250,000 and liabilities of $1,600,000. Using the accounting equationand considering each case independently, determine the followingamounts: . A. Stockholders' equity as of October 31, 2017.. B. Stockholders' equity as of October 31, 2018, assuming that assetsincreased by$800,000 and liabilities increased by $330,000 during2018.. C. Stockholders' equity as of October 31, 2018, assuming that assets decreased by $600,000 and liabilities increased by $140,000 during2018.. D. Stockholders' equity as of October 31, 2018, assuming that assetsincreased by $440,000 and liabilities decreased by $90,000 during2018, . E. Net income (or net loss) during 2018, assuming that as ofOctober 31, 2018, assets were $6, 140,000, liabilities were$1,950,000, and no additional common stock was issued ordividends paid.
Need asap please and thank you. Cullumber Company provides you with the following balance sheet information as of December 31, 2017. Current assets $14,720 Current liabilities $15,360 Long-term assets 32,860 Long-term liabilities 16,860 Total assets $47,580 Stockholders’ equity 15,360 Total liabilities and stockholders’ equity $47,580 In addition, Cullumber reported net income for 2017 of $20,480, income tax expense of $3,904, and interest expense of $1,664. Compute the current ratio and working capital for Cullumber for 2017. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio enter current ratio rounded to 2 decimal places :1 Working capital $enter a dollar amount
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Anderson Corporation had a credit balance of $43,000 in its Retained Earnings account on December 31, 2018. Net income of $6,000 was reported on its income statement for the year ended December 31, 2019. Dividends in the amount of $5,625 were declared on December 31, 2018; the dividends are payable to the company's stockholders on February 1, 2019. The balance in its Retained Earnings account on December 31, 2019 equals
Cullumber Company provides you with the following balance sheet information as of December 31, 2017. Current assets $14,720 Current liabilities $15,360 Long-term assets 32,860 Long-term liabilities 16,860 Total assets $47,580 Stockholders’ equity 15,360 Total liabilities and stockholders’ equity $47,580 In addition, Cullumber reported net income for 2017 of $20,480, income tax expense of $3,904, and interest expense of $1,664. Assume that at the end of 2017, Cullumber used $3,720 cash to pay off $3,720 of accounts payable. How would the current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio enter current ratio rounded to 2 decimal places :1 Working capital $enter a dollar amount Compute the debt to assets ratio and…
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he following items are included in the financial statement of ABC BHD for 2019: Instruction: 1. Compute the net profit for the year. 2. What is the retained earnings figure that would appear on the balance sheet at December 31, 2019? 3. Prepare a classified balance sheet for ABC BHD at December 31, 2019,assuming the note payable is a long-term debt
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Be- the-One is a motivational consulting business. At the end of its accounting period, December 31, 2017, Be-the-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts:a. Stockholders' equity as of December 31.2017b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $65,000 and liabilities increased by $36,000 during 2018
Question: Inspirational Inc. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of $567,480 and liabilities of $179,320. Determine the Stockholders' equity as of December 31, 2017.

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