This concludes the accounting for Grahams Yard Care, Inc. that we began in Chapter 1. For this
Question:
This concludes the accounting for Graham€™s Yard Care, Inc. that we began in Chapter 1. For this exercise, refer to the comparative balance sheet that was presented in the Continuing Exercise in Chapter 11.
Requirements
1. Prepare a horizontal analysis of the balance sheet for Graham€™s Yard Care, Inc.
2. Prepare a vertical analysis of the balance sheet for Graham€™s Yard Care, Inc.
Transcribed Image Text:
Graham's Yard Care, Inc. Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 ASSETS Cash Accounts Receivable Lawn Supplies Equipment (Less Accumulated Depreciation) Total Assets $1,500 $6,480 150 70 1,400 146 $8,255 $7,954 2,200 150 4,900 495 LIABILITIES Accounts Payable Notes Payable 350 $1,400 5,000 SHAREHOLDERS' EQUITY Common Shares Retained Earnings 2,000 5,905 1,000 554 Total Liabilities and Sharesholders' Equity $8,255 $7,954 Graham's Yard Care, Inc. Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 ASSETS Cash Accounts Receivable Lawn Supplies Equipment (Less Accumulated Depreciation) Total Assets $1,500 $6,480 150 70 1,400 146 $8,255 $7,954 2,200 150 4,900 495 LIABILITIES Accounts Payable Notes Payable 350 $1,400 5,000 SHAREHOLDERS' EQUITY Common Shares Retained Earnings 2,000 5,905 1,000 554 Total Liabilities and Sharesholders' Equity $8,255 $7,954
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (17 reviews)
Req 1 Increase Decrease 2015 2014 Amount Percentage Assets Cash 1500 6480 ...View the full answer
Answered By
Raunak Agarwal
Teaching is my hobby and now my profession. I teach students of CA and CFA(USA) in batches of 100 students and have a 5 year experience.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
Question Posted:
Students also viewed these Corporate Finance questions
-
Prepare a horizontal analysis of the balance sheet and income statement for 2015 and 2014. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234...
-
Prepare a horizontal analysis of the comparative income statements of Sensible Music Co. Round percentage changes to the nearest one-tenth percent (three decimalplaces). Sensible Music Co....
-
Prepare a horizontal analysis of the comparative income statements of Fashion Music Co. Round percentage changes to the nearest one-tenth percent (three decimalplaces). Fashion Music Co. Comparative...
-
Find the point-slope form of the line pass- ing through the given points. Use the first point as (x 1 , y 1 ). (-3,4), (2,5)
-
Return to your group and share your investment recommendations.
-
This problem demonstrates the effects of transactions on the current ratio and the debt ratio of Digger Company. Digger's condensed and adapted balance sheet at December 31, 2015, follows: (In...
-
You are collecting water from a well by lowering a bucket on a rope. The inertia of the empty bucket is \(0.72 \mathrm{~kg}\), and the inertia of the rope is negligible. (a) If you lower the empty...
-
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. INSTRUCTIONS Analyze each transaction carefully. Prepare an income...
-
push ('Arabic') push ('French') pop() push ('English') push ('Spanish') 1) Draw this stack (In an array of 5 elements implementation) 2) What is the language given by the Top element? 3) In which...
-
Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.3% * service years x final year's salary. payable at the end of each year. Angela Davenport was hired by...
-
You have been hired as an investment analyst at Harriet Winston Company. It is your job to recommend investments for your client. The only information you have are the following ratio values for two...
-
In Chapter 11, we prepared a cash flow statement for Aqua Elite, Inc. Now, we will analyze Aqua Elites financial statements using the tools we learned in this chapter. Following are the balance...
-
The balance in the equipment account is $28,650,000, and the balance in the accumulated depreciation-equipment account is $16,430,000. a. What is the book value of the equipment? b. Does the balance...
-
4. The maximum sum subarray problem can be stated as follows. Given an array of n integers, A[0..n-1], find the maximum sum that can be obtained by adding some number of consecutive elements in the...
-
The following data relates to Mangini Company's estimated amounts for next year. Estimated: Department 1 Department 2 Manufacturing overhead costs $ 500,000 $ 580,000 Direct labor hours 74,000 DLH...
-
This case illustrates the use of the total cost of ownership concept to analyze two supply chains, one international and one domestic. Students must calculate economic order quantity and safety stock...
-
Criminal justice organizations operate in complex environments. Why is this so critical to criminal justice administration?
-
What was the crux of Wendy's successful Twitter campaign? Why was Twitter a good social media platform for Wendy's? Can Wendy's successful Twitter campaign be replicated on other social media...
-
In ABC, mA = mC. If x > 0, what is the value of x? A x B 2x+15
-
Is it ethical to provide safety training in English to immigrant workers who speak little English, in order to reduce costs?
-
April Layton, an architect, opened an office on June 1, 2012. During the month, she completed the following transactions connected with her professional corporation, April Layton, Architect, P.C.: a....
-
On March 1, 2012, Mitch Quade established Marine Realty, which completed the following transactions during the month: a. Mitch Quade transferred cash from a personal bank account to as account to be...
-
On July 1, 2012, Kim Wheeler established an interior decorating business, Aztec Designs. During the month, Kim completed the following transactions related to the business: July 1. Kim transferred...
-
Ink Technology s Work in Process Inventory account has a beginning balance of $ 5 0 , 0 0 0 and an ending balance of $ 4 0 , 0 0 0 . Direct materials used are $ 7 0 , 0 0 0 and direct labor incurred...
-
Willie Company's retained earnings increased $ 6 0 , 0 0 0 during 2 0 1 6 . What was Willie's 2 0 1 6 net income or loss given that Willie declared $ 7 5 , 0 0 0 of dividends during 2 0 1 6 ?
-
How would the transaction affect the accounting equation? Perform services for a customer who had paid in a previous accounting period.
Study smarter with the SolutionInn App