Survey Of Accounting
5th Edition
ISBN: 9781259631122
Author: Edmonds, Thomas P.
Publisher: Mcgraw-hill Education,
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Chapter 9, Problem 17P
To determine
Prepare a horizontal analysis of balance sheet and income statement for 2019 and 2018 of Company AL.
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Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis. (Round percentages to 1 decimal
place, e.g. 12.5%.)
Dec. 31, 2022
Dec. 31, 2021
Amount
Percentage
Amount
Percentage
Accounts receivable
$ 467,400
$ 410,000
Inventory
$ 785,400
%
$ 660,000
%
Total assets
$3,197,900
%
$2,830,000
%
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1. Do the current Ration part
2. Please do a common-size comparative income statements for years Ended December 31,2022, 2019, and 2018
3. Do a balance sheet data in Trend Percents for December 31,2020, 2019, and 2018
Thank you
Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At
the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as
follows:
Cash
Accounts Receivable
Supplies
Equipment
Buildings
Land
Accounts Payable
Deferred Revenue
Notes Payable (due 2025)
Common Stock
Retained Earnings
$ 1,500,000
150,000
14,700
874,500
422,000
1,200,000
108,000
73,500
60,000
2,500,000
1,419,700
In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense,
Advertising Expense, and Utilities Expense.
The January transactions are shown below:
a. Received $50,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020.
b. Purchased 10 new computer servers for $33,500 on 1/2; paid $10,000 cash and signed a three-year note for the remainder owed.
c. Paid $10,000 for an…
Chapter 9 Solutions
Survey Of Accounting
Ch. 9 - 1. Why are ratios and trends used in financial...Ch. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - 4. What is the significance of inventory turnover,...Ch. 9 - 5. What is the difference between the current...Ch. 9 - Prob. 6QCh. 9 - Prob. 7QCh. 9 - Prob. 8QCh. 9 - 9. What are some limitations of the earnings per...Ch. 9 - Prob. 10Q
Ch. 9 - Prob. 11QCh. 9 - Prob. 12QCh. 9 - Prob. 13QCh. 9 - Prob. 14QCh. 9 - Exercise 9-1 Horizontal analysis Winthrop...Ch. 9 - Prob. 2ECh. 9 - Prob. 3ECh. 9 - Prob. 4ECh. 9 - Prob. 5ECh. 9 - Prob. 6ECh. 9 - Prob. 7ECh. 9 - Prob. 8ECh. 9 - Comprehensive analysis The December 31, 2019,...Ch. 9 - Prob. 10ECh. 9 - Prob. 11ECh. 9 - Prob. 12ECh. 9 - Ratio analysis Compute the specified ratios using...Ch. 9 - Prob. 14ECh. 9 - LO 13-2, 13-3, 13-4, 13-5 Exercise 13-15A...Ch. 9 - Prob. 16PCh. 9 - Prob. 17PCh. 9 - Prob. 18PCh. 9 - Prob. 19PCh. 9 - Prob. 20PCh. 9 - Problem 9-21 Ratio analysis Selected data for...Ch. 9 - Prob. 22PCh. 9 - Problem 9-23 Ratio analysis The following...Ch. 9 - Prob. 24PCh. 9 - Prob. 1ATCCh. 9 - Prob. 3ATCCh. 9 - ATC 9-5 Ethical Dilemma Making the ratios look...
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