Inspirational Co. 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, 2018, assuming that assets decreased by $44,830 and liabilities increased by $15,890 during 2018.
Inspirational Co. 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, 2018, assuming that assets decreased by $44,830 and liabilities increased by $15,890 during 2018.
Chapter4: The Adjustment Process
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![Inspirational Co. 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, 2018, assuming that
assets decreased by $44,830 and liabilities increased by $15,890
during 2018.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fed5e54f3-6fbb-4c43-a952-b976816b0ddd%2Fe78e8b80-7111-446d-ac42-dab4e53a65e2%2F1qhujdq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Inspirational Co. 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, 2018, assuming that
assets decreased by $44,830 and liabilities increased by $15,890
during 2018.
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