Financial statements for Pocca Company follow. Required: Prepare a horizontal analysis of both the balance sheet and
Question:
Financial statements for Pocca Company follow.
Required:
Prepare a horizontal analysis of both the balance sheet and income statement.
Transcribed Image Text:
2006 2005 Assets Current Assets Cash Marketable Securities Accounts Receivable (net) Inventories Prepaid Items Total Current Assets Investments Plant (net) Land Total Assets Equities Liabilities Current Liabilities Notes Payable Accounts Payable Salaries Payable Total Current Liabilities Noncurrent Liabilities. Bonds Payable $ 16,000 20,000 $ 12,000 6,000 54,000 46,000 135,000 143,000 25,000 10,000 250,000 217,000 27,000 20,000 270,000 255,000 29,000 24,000 $516,000 $576,000 $ 17,000 113,800 $ 6,000 100,000 21,000 15,000 151,800 121,000 100,000 100,000 Other 32,000 27,000 Total Noncurrent Liabilities 132,000 127,000 Total Liabilities 283,800 248,000 Stockholders' Equity Preferred Stock, par value $10, 4% cumulative, non- participating; 7,000 shares authorized and issued; no dividends in arrears 70,000 70,000 Common Stock, $5 par value; 50,000 shares authorized; 10,000 shares issued 50,000 50,000 Paid-In Capital in excess of par value-Preferred 10,000 10,000 Paid-In Capital in excess of par value-Common 30,000 30,000 Retained Eamings 132,200 108,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 292,200 268,000 $576,000 $516,000
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Survey Of Accounting
ISBN: 9780073526775
1st Edition
Authors: Thomas Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay
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