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Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2012, Inspirational has assets of $879,940 and
Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2012, Inspirational has assets of $879,940 and liabilities of $278,060. Using the accounting equation and considering each case independently, determine the following amounts a. Stockholders equity as of October 31, 2012 b. Stockholders equity as of October 31, 2013, assuming that assets increased by $139,030 and abilities increased by 585,990 during 2013 c. Stockholders equity as of October 31, 2013, assuming that assets decreased by $69,520 and liabilities increased by $24,640 during 2017, d. Stockholders equity as of October 31, 20v3, assuming that assets increased by $116,150 and abilities decreased by $44,000 during 2013. e. Net Income (or net bosa) during 2073, assuming that as of October 31, 2013, assets were $1,106.720 liabilities were $180,390, and no additional common stock was Hoved or dividends paid
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