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, $18,000Inspirational 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.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.
- General AccountingNeed 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 amountAnderson 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…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.)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
- 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. $220,000Cello 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.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.
