Question: Hi I need help with these problems, please answer exactly the way it is and correct Blossom is unable to reconcile the bank balance at
Hi I need help with these problems, please answer exactly the way it is and correct
Blossom is unable to reconcile the bank balance at January 31. Blossom's reconciliation is as follows. Cash balance per bank $4,000.20 Add: NSF check 470.00 Less: Bank service charge 32.00 Adjusted balance per bank $4,438.20 Cash balance per books $4,315.20 Less: Deposits in transit 750.00 Add: Outstanding checks 937.00 Adjusted balance per books $4,502.20 (3) Prepare a correct bank reconciliation. (List items that increase cash balance rst. Reconcile cash balance per bank rst. Round answers to 2 decimal places, e.g. 52.75.) Blossom Bank Reconciliation to $Suppose the comparative balance sheets of Nike, Inc. are presented here. Nike, Inc. Condensed Balance Sheet May 31 ($ in millions) Assets Current Assets $9,800 $8,760 Property, plant, and equipment (net) 1,970 1,800 Other assets 1,550 1,770 Total assets $13,320 $12,330 Liabilities and Stockholders' Equity Current Liabilities $3,230 $3,320 Long-term liabilities 1,310 1,350 Stockholders' equity 8,780 7,660 Total liabilities and stockholders' equity $13,320 $12,330 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (lf amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Increase Change 2020 2019 (Decrease) from 2019 Assets Current Assets $9,800 $8,760 to 1040 11.9% Property, plant, and equipment 1,800 (net) 1,970 170 9.4% % Other assets 1,550 1,770 -220 -12.4% % Total assets $13,320 $12,330 $ 990 8 % Liabilities and Stockholders' Equity Current Liabilities $3,230 $3,320 $ -26 -0.8 o Long-term liabilities 1,310 1,350 .63 -4.7 Stockholders' equity 8,780 7,660 1079 14.1 %Liabilities and Stockholders' Equity Current Liabilities $3,230 $3,320 $ -26 -0.8 Long-term liabilities 1,310 1,350 -63 -4.7 % Stockholders' equity 8,780 7,660 1079 14.1 Total liabilities and stockholders' $13,320 $12,330 990 8.0 % equity (b) Prepare a vertical analysis of the balance sheet data for Nike for 2020. NIKE, INC. Condensed Balance Sheet May 31, 2020 $ (in millions) Percent Assets Current Assets $9,800 73.6 % Property, plant, and equipment (net) 1,970 14.8 %NIKE, INC. Condensed Balance Sheet May 31, 2020 $ (in millions) Percent Assets Current Assets $9,800 73.6 % Property, plant, and equipment (net) 1,970 14.8 % Other assets 1,550 11.6 % Total assets $13,320 100 Liabilities and Stockholders' Equity Current Liabilities $3,230 24.7 % Long-term Liabilities 1,310 9.7 % Stockholders' equity 8,780 65.6 % Total liabilities and stockholders' equity $13,320 100
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