Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. Bethesda Mining Company reports the following
Question:
Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining.
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019.
Transcribed Image Text:
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Liabilities and Owners' Equity Assets Current assets Current liabilities $ 21,182 $ 24,141 Accounts payable $180,108 $190,767 Cash Notes payable 51,036 59,935 83,179 $263,287 Accounts receivable 98,175 $288,942 Inventory Total 120,589 142,718 $192,807 $226,794 $305,000 $340,000 Total Long-term debt Owners' equity Common stock and pai $165,000 $178,000 surplus Accumulated retained earnings Fixed assets 235,445 283,578 $775,925 $863,726 $1,090,520 $400,445 $968,732 $461,578 $1,090,520 Net plant and equipment Total $968,732 Total liabilities and owners' equity Total assets
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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: 978-1260013955
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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