FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The
Assets: | Year 2 | Year 1 |
Current assets | $445 | $280 |
Plant assets | 680 | 520 |
Total assets | $1,125 | $800 |
Liabilities and |
||
Current liabilities | $285 | $120 |
Long-term debt | 255 | 160 |
Common stock | 325 | 320 |
260 | 200 | |
Total liabilities and stockholders' equity | $1,125 | $800 |
Required:
Question Content Area
a. Using horizontal analysis, show the percentage change for each balance sheet item using Year 1 as a base year. If required, round percentage to one decimal place. If required, use the minus sign to indicate decreases in amounts and percents (negative values).
Assets | Year 2 | Year 1 | Increase/ Decrease Amount |
Increase/ Decrease Percentage |
Current assets | $445 | $280 | $fill in the blank 993da1faf023f83_1 | fill in the blank 993da1faf023f83_2% |
Plant assets | 680 | 520 | fill in the blank 993da1faf023f83_3 | fill in the blank 993da1faf023f83_4 |
Total assets | $1,125 | $800 | $fill in the blank 993da1faf023f83_5 | fill in the blank 993da1faf023f83_6% |
Liabilities & stockholders' equity | ||||
Current liabilities | $285 | $120 | $fill in the blank 993da1faf023f83_7 | fill in the blank 993da1faf023f83_8% |
Long-term debt | 255 | 160 | fill in the blank 993da1faf023f83_9 | fill in the blank 993da1faf023f83_10 |
Common stock | 325 | 320 | fill in the blank 993da1faf023f83_11 | fill in the blank 993da1faf023f83_12 |
Retained earnings | 260 | 200 | fill in the blank 993da1faf023f83_13 | fill in the blank 993da1faf023f83_14 |
Total liabilities and stockholders' equity | $1,125 | $800 | $fill in the blank 993da1faf023f83_15 | fill in the blank 993da1faf023f83_16% |
Question Content Area
b. Using vertical analysis, prepare a comparative balance sheet. If required, round your answers to one decimal place.
Assets | Year 2 Amount |
Year 2 Percent |
Year 1 Amount |
Year 1 Percent |
Current assets | $445 | fill in the blank f6cf25f95fdcfed_1% | $280 | fill in the blank f6cf25f95fdcfed_2% |
Plant assets | 680 | fill in the blank f6cf25f95fdcfed_3 | 520 | fill in the blank f6cf25f95fdcfed_4 |
Total assets | $1,125 | fill in the blank f6cf25f95fdcfed_5% | $800 | fill in the blank f6cf25f95fdcfed_6% |
Liabilities and stockholders' equity | ||||
Current liabilities | $285 | fill in the blank f6cf25f95fdcfed_7% | $120 | fill in the blank f6cf25f95fdcfed_8% |
Long-term debt | 255 | fill in the blank f6cf25f95fdcfed_9 | 160 | fill in the blank f6cf25f95fdcfed_10 |
Common stock | 325 | fill in the blank f6cf25f95fdcfed_11 | 320 | fill in the blank f6cf25f95fdcfed_12 |
Retained earnings | 260 | fill in the blank f6cf25f95fdcfed_13 | 200 | fill in the blank f6cf25f95fdcfed_14 |
Total liabilities and stockholders' equity | $1,125 | fill in the blank f6cf25f95fdcfed_15% | $800 | fill in the blank f6cf25f95fdcfed_16% |
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