From the comparative balance sheet of Hesler Corporation in Figure 22.12, do the following: (a) Prepare a
Question:
From the comparative balance sheet of Hesler Corporation in Figure 22.12, do the following:
(a) Prepare a horizontal analysis of each item for the amount of increase or decrease as well as the percent increase or decrease (to the nearest tenth of a percent).
(b) Vertically analyze the 2016 column of the balance sheet (to the nearest tenth of a percent).
Transcribed Image Text:
HESLER CORPORATION COMPARATNE BALANCE SHEET AS OF DECEMBER 31, 2016, AND DECEMBER 31, 2015 December 31 Assets 2016 2015 Current Assets: Cash Accounts Receivable, Net Merchandise Inventory Prepaid Expenses $ 31기0101001$ 3141010100 2400 ooo 15 100 00 49 00 ooo 16 000 00 62000 121000 Total Current Assets $78 3 2000$ 35 710 00 Plant and Equipment Office Equipment, Net Total Assets $121 00000 $ 113 00 0 00 $ 199 2101001$ 148|7110100 Lia bilities Current Liabilities Notes Payable Accounts Payable $19 5 0000 27 000 00 21 30ooo 23 4 00 00 40 80000S 50400 00 Total Current Liabilities LongTerm Liabilities: Mortgage Payable Total Liabilities $53 00000 42 000 00 93 80000S 92 400 00 Stockholders' Equit Common Stock, $1 par Retained Earnings 4850000S 25000 00 50201001 313| 0100 105 5 2 000 56 3 10 00 199 32000 $148 710 00 Total Stockholders Equity Total Liabilities and Stockholders Equity
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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