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…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 17PA: Using the following Company W information, prepare a Retained Earnings Statement. Retained earnings...

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Casello Mowing & Landscaping’s year-end 2018 balance sheet lists current assets of $436,600, fixed assets of $551,400, current liabilities of $418,000, and long-term debt of $317,300. Calculate Casello’s total stockholders’ equity. (Enter your answer in dollars. Round your answer to the nearest dollar amount.)
Cello Mowing & Landscaping's year-end 2018 balance sheet lists current assets of $435,400, fixed assets of $550,600, current liabilities of $416,800, and long-term debt of $314,900. Calculate Cello's total stockholders' equity.
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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
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The stockholders’ equity of Kowalski Company at the beginning and end of 2018totaled $122,000 and $140,000, respectively. Assets at the beginning of 2018 were $149,000. Ifthe liabilities of Kowalski Company increased by $69,000 in 2018, how much were total assetsat the end of 2018? Use the accounting equation.a. $218,000b. $62,000c. $236,000d. $220,000
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The following is the balance sheet data of ABD Ltd. for the year ending Dec 31, 2016 and Dec 31, 2015. Year Total Equity Total Liabilities Dec 31, 2016 $34,670 $14,560 Dec 31, 2015 $33,240 $13,250 Determine the total assets as on Dec 31, 2016 and Dec 31, 2015 respectively. $49,230 and $46,490 $20,110 and $19,990 $34,675 and $46,501 $48,243 and $13,250
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