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, 2018, assuming that assets increased by $89,660 and liabilities increased by $53,910 during 2018.
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- Using the following Company W information, prepare a Retained Earnings Statement. Retained earnings balance January 1, 2019, $43,500 Net income for year 2019, $55,289 Dividends declared and paid for year 2019, $18,000Accounting 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
- 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 equalsCullumber 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…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.Terps Company’s Balance Sheet on December 31, 2018 showed Total Assets of $110,500. The company’s Ratio of Liabilities to Stockholders’ Equity was 3.56. Determine the amount of the company’s liabilities on December 31, 2018?Applying the Fundamental Accounting Equation At the beginning of 2019, KJ Corporation had total assets of $554,000, total liabilities of $261,800, common stock of $139,300, and retained earnings of $152,900. During 2019, KJ had net income of $225,200, paid dividends of $74,400, and issued additional common stock for $93,900. KJ's total assets at the end of 2019 were $721,800. Required: Calculate the amount of liabilities that KJ must have at the end of 2019 in order for the balance sheet equation to balance.
- Finney Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31,2018. Total Current Liabilities $36,210 Total Stockholders' Equity $ ? Total Current Assets 32,670 Other Assets 33,500 Long-term Liabilities 204,970 Property, Plant, and Equipment, Net 330,610The below tables shows Dynamic Mattress’s year-end 2016 and 2018 balance sheets, and its income statement for 2017. Dynamic MattressYear-End Balance Sheet for 2016(figures in $ millions) Assets Liabilities and Shareholders’ Equity Current Assets: Current Liabilities: Cash $ 22 Bank loans $ 22 Marketable securities 11 Accounts payable 80 Accounts receivable 111 Inventory 155 Total current assets $ 299 Total current liabilities $ 102 Fixed assets: Gross investment $ 251 Long-term debt 26 Less depreciation 71 Net worth (equity and retained earnings) 351 Net fixed assets $ 180 Total assets $ 479 Total liabilities and net worth $ 479 Dynamic MattressYear-End Balance Sheet for 2017(figures in $ millions) Assets Liabilities and Shareholders’ Equity Current Assets: Current Liabilities: Cash $ 32.0 Debt due within a year (bank…The below tables shows Dynamic Mattress’s year-end 2016 and 2018 balance sheets, and its income statement for 2017. Dynamic MattressYear-End Balance Sheet for 2016(figures in $ millions) Assets Liabilities and Shareholders’ Equity Current Assets: Current Liabilities: Cash $ 46 Bank loans $ 46 Marketable securities 23 Accounts payable 140 Accounts receivable 123 Inventory 215 Total current assets $ 407 Total current liabilities $ 186 Fixed assets: Gross investment $ 263 Long-term debt 38 Less depreciation 83 Net worth (equity and retained earnings) 363 Net fixed assets $ 180 Total assets $ 587 Total liabilities and net worth $ 587 Dynamic MattressYear-End Balance Sheet for 2017(figures in $ millions) Assets Liabilities and Shareholders’ Equity Current Assets: Current Liabilities: Cash $ 176.0 Debt due within a year (bank…