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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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
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- Included in the December 31, 2018, Jacobi Company balance sheet was the following shareholders equity section: The company engaged in the following stock transactions during 2019: Required: 1. Prepare journal entries to record the preceding transactions. 2. Prepare the December 31, 2019, shareholders equity section (assume that 2019 net income was 270,000).Gray Company lists the following shareholders equity items on its December 31, 2018, balance sheet: The following stock transactions occurred during 2019: Required: 1. Prepare journal entries to record the preceding transactions. 2. Prepare the December 31, 2019, shareholders equity section (assume that 2019 net income was 225,000).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, $18,000
- 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 amountThe 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
- Presented below are data for Caracas Corp. 2017 2018 Assets, January 1 $6,840 ? Liabilities, January 1 ? $4,104 Stockholders' Equity, Jan. 1 ? $4,125 Dividends 855 969 Common Stock 912 975 Stockholders' Equity, Dec. 31 ? 3,399 Net Income 1,026 ? Net income for 2018 is... $243 loss. $726 income. $180 income. $726 loss. Please show work.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…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?
- Use the following selected financial information for Cascabel Corporation to answer questions Cascabel Corporation Balance Sheet December 31, 2015 Assets Liabilities and stockholders' equity Current assets Current liabilities Cash 2 Accounts payable 36 Short-term investments 10 Accrued liabilities 25 Accounts receivable 52 Total current liabilities 61 Inventory 57 Other current assets 8 Long-term debt 102 Total current assets 129 Total liabilities 163 Long-term assets Stockholders' equity Net Plant 195 Common stock (10) 110 Retained earnings 51 Total stockholders'…Use the following selected financial information for Cascabel Corporation to answer questions Cascabel Corporation Balance Sheet December 31, 2015 Assets Liabilities and stockholders' equity Current assets Current liabilities Cash Accounts payable Accrued liabilities 2 36 Short-term investments 10 25 Accounts receivable 52 Total current liabilities 61 Inventory 57 Other current assets Long-term debt 102 Total current assets 129 Total liabilities 163 Long-term assets Stockholders' equity Net Plant 195 Common stock 110 Retained earnings Total stockholders' equity Total liabilities and equity 51 161 324 Total assets 324 Cascabel Corporation Income Statement For the Year Ended December 31, 2015Presented below is information related to Cullumber Company as of and for the year ended December 31, 2017. This was Cullumber Company's first year of operations. (Ignore income tax effects.) Sales revenue $ 1,350,000 Cost of goods sold 630,000 Selling and administrative expenses 380,000 Loss on sale of plant assets 82,000 Unrealized gain on available-for-sale investments 12,000 Interest expense 5,200 Interest revenue 3,500 Loss on discontinued operations 2,800 Allocation to noncontrolling interest 9,400 Dividends de red and paid 27,100