Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. inspirational inc. is a motivational consulting bu

Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October...

70.2K

Verified Solution

Question

Accounting

image

Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $863,870 and liabilities of $272,980. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 20Y2. $ b. Stockholders' equity as of October 31, 2043, assuming that assets increased by $136,490 and liabilities increased by $82,070 during 2073. c. Stockholders' equity as of October 31, 2043, assuming that assets decreased by $68,250 and liabilities increased by $24,190 during 20Y3. d. Stockholders' equity as of October 31, 2043, assuming that assets increased by $114,030 and liabilities decreased by $43,190 during 20Y3. e. Net income (or net loss) during 20Y3, assuming that as of October 31, 2043, assets were $1,088,480, liabilities were $177,090, and no additional common stock was issued or dividends paid

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe how the cost principle applies to plant assets and explain the concept of depreciation.

Accounting
Q

For the data set below, find the upper outlier boundary. 154 160 146 131 148 164...

Statistics
Q

How do you understand racism and/or prejudice to have impacted your lived experience? What do you...

Psychology
Q

The ground temperature a few meters below the surface is fairly constant throughout the year, and...

Physics
Q

A parabola best represents the data because there is not a constant rate of change...

Statistics
Q

A particle is moving with acceleration a t 30t 18 its position at time t...

Calculus
Q

Find the derivative of (x) = ?4?x 6-X4Type your answer without fractional or negative exponents....

Calculus
Q

Do It! Review 9-5 For 2017, Sale Company reported beginning total assets of...

Accounting
Q

Web Services is organized as a limited partnership, with David White as one of its...

Accounting
Q

It was discovered that the bookkeeper for U Ltd. had recorded a $200 deposit from...

Accounting
Q

Blue Corporation and Fuchsia Corporation are engaged in a contract negotiation over the use of...

Accounting
Q

What combination of x and y is a feasible solution that maximizes the value of...

Accounting