Selected financial information (in 000s) from the financial statements of Moosomin Ltd. for Years 6 and 7

Question:

Selected financial information (in 000s) from the financial statements of Moosomin Ltd. for Years 6 and 7 is as follows:

Required

(a) Convert Moosomin’s financial statements for both Year 6 and Year 7 into common-sized financial statements using (i) Vertical analysis

(ii) Horizontal analysis

(b) Identify three financial statement items (other than net income) that seem to be the most peculiar relative to expectations and explain why they seem peculiar.

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Related Book For answer-question

Modern Advanced Accounting In Canada

ISBN: 9781260881295

10th Edition

Authors: Hilton Murray, Herauf Darrell

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Question Posted: Jun 20, 2023 05:46 AM

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Selected financial information (in 000s) from the financial statements of Moosomin Ltd. for Years 6 and 7

Question:

Sales revenue Cost of goods sold Other expenses Net income Current assets Total assets Total liabilities Shareholders' equity Year 6 $1,200 700 300 200 390 1,440 1,030 410 Year 7 $1,300 765 255 280 430 1,530 940 590

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a i ii b The three financial statement items that seem most peculia...View the full answer

Modern Advanced Accounting In Canada

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