Question

Umice 365 Calculator Accounting equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2012, Inspirational has assets of $5,950,000 and liabilities $2,450,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in questions below X Open spreadsheet Using the accounting equation and considering each case independently, determine the following amounts. Round your answers to the nearest dollar. a. Stockholders' equity as of October 31, 20Y2. $ 5. Stockholders' equity as of October 31, 2013, assuming that assets increased by $500,000 and liabilities increased by $250,000 during 2073. $ - Stockholders' equity as of October 31, 2013, assuming that assets decreased by $450,000 and liabilities increased by $220,000 during 2073. $ Stockholders' equity as of October 31, 2013, assuming that assets increased by $330,000 and abilities decreased by $60,000 during 2073. $ Net Income (or net loss) during 2043, assuming that as of October 31, 2013, assets were $6,450,000, liabilities were $2,150,000, and no additional common stoc issued or dividends paid. $ ck My Work Previous Next

Answer 1

Stockholders = Total Assets- Total Liabilities

A - Stakeholders = 5900000-2450000= 3500000

B- Stakeholders = 3500000 +500000-250000 =3750000

C - Stakeholders = 3500000-450000-220000=2830000

D- Stakeholders = 3500000+330000+60000=389000

D- net income = 6450000-2150000=4300000