The following balance sheets for The Sports Shack are provided. Required: 1. Prepare a vertical analysis of
Question:
Required:
1. Prepare a vertical analysis of The Sports Shack 2015 and 2014 balance sheets. Express each amount as a percentage of total assets for that year.
2. Prepare a horizontal analysis of The Sports Shack 2015 balance sheet using 2014 as the base year.
Transcribed Image Text:
The Sports Shack Balance Sheets December 31 A ssets 2015 2014 Current assets Cash Accounts receivable Inventory Supplies 680,000 90.000 1,200,000 S218,000 S196,000 880,000 1,250,000 1.100,000 65,000 Long-tem assets Equipment Accumulated depreciation (350.000 (250.000) 900.000 Total assets S3,088,000 S2,891,000 Liabilities and Stockholders' Equitv Current liabilities Accounts payable Interest payable S65,000 S 55,000 6.000 30.000 4.000 40,000 400,000 900.000 Income tax payable Long-tem liabilities Notes payable Stockholders equity: 300,000 900.000 ommon stock Retained eamin 1.679.000 1.600.000 Total liabilities and eqity S3,088,000 S2,891.000 gs
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
Requirement 1 The Sports Shack Balance Sheets December 31 Assets 2015 2014 Amount Amount Current ass...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Question Posted:
Students also viewed these Managerial Accounting questions
-
Using the comparative income statement, prepare a vertical analysis of all items from sales through gross profit on sales for the years shown. Canna, Inc. Comparative Income Statement Years Ended...
-
Prepare a Vertical Analysis of Income Statement. (Show your % out to 2 Decimals, example =9.55% ) 1) Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock....
-
Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The following information pertains to Wheal Company on the date of acquisition: Book Value Fair Value Cash $...
-
BHG is a successful listed entity that designs and markets specialist business software. BHG's directors have decided to adopt a policy of expansion into overseas territories through the acquisition...
-
1. Consider a helical coil spring where a center position on its helix can be described by x = r coss, y =r sin s, and z=s, where x, y, and z are the Cartesian coordinates, and the independent...
-
A brand-new sleeve bearing has been installed in a machine. The vibration levels on restart of the machine are not within tolerance, and the predominant peaks are at exactly one-half the operating...
-
Venetian Company has two production departments, Fabricating and Assembling. At a department managers meeting, the controller uses flexible budget graphs to explain total budgeted costs. Separate...
-
Coronado Company purchased equipment for $222,800 on October 1, 2025. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is...
-
The adjusted trial balance columns of the worksheet for Auburn Company are as follows. Instructions Complete the worksheet. Auburn Company Worksheet (partial) For the Month Ended April 30, 2020...
-
The income statements for The Sports Warehouse for the years ending December 31, 2016, and 2015, are provided. Required: 1. Complete the Amount and % columns to be used in a horizontal analysis of...
-
The following income statement and balance sheets for The Sports Shack are provided. Required: Assuming that all sales were on account, calculate the following risk ratios for 2015. 1. Receivables...
-
What mix of monetary and fiscal policy is needed to meet the following objectives? a. Increase Y while keeping i constant. Would investment (I) change? b. Decrease a fiscal deficit while keeping Y...
-
Write a code fragment that puts the binary representation of a positive integer n into a String variable s.
-
Explain the role of the board of directors in running a public company. What is the boards primary job? What distinguishes inside from outside directors?
-
Analyze a companys competitors to identify the likely ways they will respond to a companys strategic moves using a competitor response profile.
-
Wind chill. Given the temperature T (in degrees Fahrenheit) and the wind speed v (in miles per hour), the National Weather Service defines the effective temperature (the wind chill) as follows: w =...
-
Gaussian random numbers. Write a program RandomGaussian that prints a random number r drawn from the Gaussian distribution. One way to do so is to use the BoxMuller formula r = sin(2 v) (-2 ln u)1/2...
-
A 1.000-g sample of a liquid that contains only carbon and hydrogen burns in oxygen to produce 1.284 g of H 2 O. (a) What are the mass percents of the elements present in this sample? (b) What is the...
-
What do you think?
-
Consider a consumer who lives for three periods: youth, middle age, and old age. When young, the consumer earns \(\$ 20,000\) in labor income. Earnings during middle age are uncertain; there is a...
-
The December 31, 2011, balance sheet for Morrison Home Services is summarized below. During January of 2012, the following transactions were entered into:1. Services were performed for $7,000 cash.2....
-
The December 31, 2011, balance sheet of Tybee Corporation is provide below (in millions). Transactions during January 2012:Paid $5 for employee wages.Collected $10 cash from customers for work...
-
Ten transactions are listed below. REQUIRED:For each one, indicate what specific accounts are affected as well as the direction (increase or decrease) of the effect. Also indicate whether the...
-
American X wishes to borrow U.S. dollars at a fixed rate of interest. Corporation Y wishes to borrow Japanese Yen at a fixed rate of interest. The amounts required by the two companies are the same...
-
Bunga Raya Kuning Berhad is a Malaysian-based MNC that obtains 12 percent of its supplies from the U.K. manufacturers. Sixty-five percent of its revenues are from due to exports to U.K. where its...
-
Trevor's Tool Shop is considering investing in a new machine. The company currently has $500,000 per year in sales. The company has $265,000 per year in net income. If the company invests in the new...
Study smarter with the SolutionInn App