Managerial Accounting: Tools for Business Decision Making
7th Edition
ISBN: 9781118334331
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: WILEY
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Textbook Question
Chapter 14, Problem 14.3E
The comparative condensed balance sheets of Gurley Corporation are presented on page 638.
GURLEY CORPORATION
Comparative Condensed Balance Sheets
December 31
2017 | 2016 | |
Assets | ||
Current assets | $ 74,000 | $ 80,000 |
Property, plant, and equipment (net) | 99,000 | 90,000 |
Intangibles | 27,000 | 40,000 |
Total assets | $200,000 | $210,000 |
Liabilities and |
||
Current liabilities | $ 42,000 | $ 48,000 |
Long-term liabilities | 143,000 | 150,000 |
Stockholders' equity | 15,000 | 12,000 |
Total liabilities and stockholders' equity | $200,000 | $210,000 |
Instructions
(a) Prepare a horizontal analysis of the
(b) Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017.
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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31
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$ 15,000
$ 12,000
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6,900
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$ 33,300
Common stock (4,000 shares)
60,000
60,000
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Common equity
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$117,000
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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31
2018
2017
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Cash and equivalents
$ 15,000
$ 12,000
Accounts receivable
35,000
30,000
Inventories
33,720
27,000
Total current assets
$ 83,720
$ 69,000
Net plant and equipment
50,000
48,000
Total assets
$133,720
$117,000
Liabilities and Equity
Accounts payable
$ 10,000
$ 8,000
Accruals
7,000
5,000
Notes payable
6,900
5,300
Total current liabilities
$ 23,900
$ 18,300
Long-term bonds
15,000
15,000
Total liabilities
$ 38,900
$ 33,300
Common stock (4,000 shares)
60,000
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Retained earnings
34,820
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$117,000
Income Statement for Year Ending December 31, 2018
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$239,000
Operating costs excluding depreciation and amortization
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EBITDA
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Depreciation…
Chapter 14 Solutions
Managerial Accounting: Tools for Business Decision Making
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Ch. 14 - Which ratios should be used to help answer the...Ch. 14 - The price-earnings ratio of General Motors...Ch. 14 - What is the formula for computing the payout...Ch. 14 - Holding all other factors constant, indicate...Ch. 14 - Prob. 15QCh. 14 - Prob. 16QCh. 14 - Prob. 17QCh. 14 - Prob. 18QCh. 14 - Prob. 19QCh. 14 - Why is it important to report discontinued...Ch. 14 - You are considering investing in Wingert...Ch. 14 - Prob. 22QCh. 14 - Prob. 23QCh. 14 - You recently received a letter from your Uncle...Ch. 14 - Prob. 14.2BECh. 14 - Using the following data from the comparative...Ch. 14 - Using the same data presented above in BE14-3 for...Ch. 14 - Net income was 500,000 in 2016, 450,000 in 2017,...Ch. 14 - Prob. 14.6BECh. 14 - Prob. 14.7BECh. 14 - Prob. 14.8BECh. 14 - Prob. 14.9BECh. 14 - Prob. 14.10BECh. 14 - The following data are taken from the financial...Ch. 14 - Prob. 14.12BECh. 14 - Prob. 14.13BECh. 14 - Prob. 14.14BECh. 14 - On June 30. Holloway Corporation discontinued its...Ch. 14 - Prob. 14.1DICh. 14 - Prob. 14.2DICh. 14 - In its proposed 2017 income statement. Hrabik...Ch. 14 - Financial information for Kurzen Inc. is presented...Ch. 14 - Operating data for Navarro Corporation are...Ch. 14 - The comparative condensed balance sheets of Gurley...Ch. 14 - The comparative condensed income statements of...Ch. 14 - Suppose Nordstrom, Inc., which operates department...Ch. 14 - Keener Incorporated had the following transactions...Ch. 14 - Frizell Company has the following comparative...Ch. 14 - Prob. 14.8ECh. 14 - Prob. 14.9ECh. 14 - Prob. 14.10ECh. 14 - Wiemers Corporations comparative balance sheets...Ch. 14 - Prob. 14.12ECh. 14 - Prob. 14.13ECh. 14 - Comparative statement data for Farris Company and...Ch. 14 - The comparative statements of Painter Tool Company...Ch. 14 - Prob. 14.3APCh. 14 - Financial information for Messersmith Company is...Ch. 14 - Prob. 14.5APCh. 14 - Prob. 14.6APCh. 14 - Prob. 14.7APCh. 14 - Prob. 14.8APCh. 14 - Prob. 14.9APCh. 14 - Financial Reporting Problem: Apple Inc. Your...Ch. 14 - PepsiCos financial statements are presented at...Ch. 14 - Prob. 14.3BYPCh. 14 - As the CPA for Gandara Manufacturing Inc., you...Ch. 14 - The Management Discussion and Analysis section of...Ch. 14 - Prob. 14.6BYPCh. 14 - Dave Schonhardt, president of Schonhardt...
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