Prepare the 2009 and 2010 common size balance sheets for Bethesda Mining. BETHESDA MINING COMPANY Balance Sheets
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Prepare the 2009 and 2010 common size balance sheets for Bethesda Mining.
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BETHESDA MINING COMPANY Balance Sheets as of December 31, 2009 and 2010 2009 2010 2009 2010 Liabilities and Owners' Equity Assets Current assets Current liabilities $ 23,774 $ 31,437 Cash $194,922 $202,611 Accounts payable Accounts receivable 57,281 77,639 Notes payable 90,020 $284,942 141,588 $344,199 135,341 $216,396 202,574 $311,650 Total Inventory Total 247,000 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained eamings 183,750 $208,000 $208,000 Fixed assets 133,601 $341,601 $873.543 164.879 $372,879 $900.828 Net plant and equipment $657,147 $589,178 $900,828 Total $873.543 Total assets Total liabilities and owners' equity
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To calculate the commonsize balance sheet we divide each asset account by total assets and each liab...View the full answer
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Related Book For
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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