Using the following data, prepare a common-size balance sheet. Sales for the year were$75,000. Assets Current assets:
Question:
Transcribed Image Text:
Assets Current assets: Cash ..... Accounts receivable Inventory. $4,800 9,300 6,000 $20,100 33,000 5,700 $58,800 Total current assets. Property, plant, and equipment (net) Goodwill Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable. Unearned revenue.. Total current liabilities Long-term debt $7,200 3,800 $11,000 18,000 $29,000 15,000 14,800 $58,800 Total liabilities. Capital stock Retained earnings. Total liabilities and stockholders' equity.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
Assets Current assets Cash 4800 64 Accounts receivable ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Question Posted:
Students also viewed these Managerial Accounting questions
-
Prepare a vertical analysis using the following data (in thousands) from the comparative income statement of JTI Inc.: 2012 $1,914 1,612 302 218 84 17 $ 67 2011 Net sales Cost of goods sold Gross...
-
Using the following data from the comparative balance sheet of Doabe Company, illustrate horizontalanalysis. December 31, 2013 $ 520,000 $ 840,000 December 31, 2012 $ 400,000 $ 600,000 Accounts...
-
Using the following data from the comparative balance sheet of Goody Company, illustrate horizontalanalysis. Accounts receivable Inventory Total assets December 31, 2015 520,000 840,000 3,000,000...
-
Are workers less likely to quit their jobs when wages are high than when they are low? The paper Investigating the Causal Relationship Between Quits andWages: An Exercise in Comparative Dynamics...
-
On December 31, 2017, PanTech Company invests $20,000 in SoftPlus, a variable interest entity. In contractual agreements completed on that date, PanTech established itself as the primary beneficiary...
-
The student senate at a university with 15,000 students is interested in the proportion of students who favor a change in the grading system to allow for plus and minus grades (for example, B1, B,...
-
To what extent does ASOS sell through an integrated distribution channel system?
-
Presented below is information for Zhou Co. for the month of January 2014. Instructions (a) Prepare an income statement using the format presented on page 245. Assume a 25% tax rate. (b) Calculate...
-
6. Given the first ten positive integers we have that the sum-of-squares is given by and the square-of-the-sum is 12+22+32 + ... +10 = 385 (1+2+3+...+10) = 3025. The difference between the two is...
-
Shayla Green owns Creative Designs. The trial balance of the firm for January 31, 20X1, the first month of operations, is shown below. End-of-the-month adjustments must account for the following...
-
Using the following data, (1) Prepare comparative common-size income statements for years 1 and 2 and (2) Briefly outline why return on sales is lower in year 2 (1.8%) compared to year 1(7.0%). Year...
-
Refer to the data in PE 14-12. Prepare a common-size balance sheet using total assets to standardize each amount instead of using total sales.
-
What circumstances result in a prosecutor assuming the de facto sentencing power?
-
Prior to the interview, T. J. McKee the Sales Manager requests a personal resume. Your current average grade in your program is 68, but it will very likely increase to 70 or higher at the end of the...
-
problem his company solves is personal. Taylors father, who is fighting both heart disease and cancer, takes 26 different medications to fight his illnesses. Any mix-up or error associated with...
-
George Schneider founded Anheuser-Busch in St. Louis in 1852. In 1860, the brewery was sold to Eberhard Anheuser and several other investors, although Anheuser later bought out the others. Adolphus...
-
Find the critical values for the following standard normal distributions: (a) Two-tailed test for = .05 (b) One-tailed test for = .05 (c) Two-tailed test for = .01 (d) One-tailed test for = .01...
-
Michael looked over the new ideas his workers had submitted, feeling increasingly frustrated. As head of the research and development department, he knew innovation was the only thing that would save...
-
Write two pseudocode routines to access (read from and write to) a 20 - item ring buffer. The routines should use binary semaphores to allow more than one user to access the buffer safely.
-
Refer to the following matrices: For matrix C, find c 11 + c 12 + c 13 . 2 -4 0 A=8 19 6 -5 B = D -19 0 8 7 2 4 0 C = [2 -3 0] || -4
-
What is the total value of a corporation? Who has claims on this value? MINI CASE You have been hired as a consultant to Kulpa Fishing Supplies (KFS), a company that is seeking to increase its value....
-
What is its total corporate value? What is its value of equity? MINI CASE You have been hired as a consultant to Kulpa Fishing Supplies (KFS), a company that is seeking to increase its value. KFS has...
-
What is its MVA (MVA = total corporate value total book value)? MINI CASE You have been hired as a consultant to Kulpa Fishing Supplies (KFS), a company that is seeking to increase its value. KFS...
-
Make Versus Buy: Samaneh's SKateboard Company produces high quality skateboards at affordable prices with over 10 different types of skateboards. Most of the manufacturing occurs in Hawaii. The top...
-
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity...
-
Discuss the use of encryption in databases. What are the different levels of encryption (e.g., at-rest, in-transit), and what performance implications might encryption have ?
Study smarter with the SolutionInn App