Financial Accounting - Access
4th Edition
ISBN: 9781259958533
Author: SPICELAND
Publisher: MCG
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Chapter 12, Problem 12.1BE
To determine
To perform: Vertical analysis
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Vockery Market Co.
Balance Sheet
2018 2017
Cash
20,000
24,000
ST Investments
18,000
26,000
Net Accounts Receivable
50,000
78,000
Inventory
70,000
66,000
Prepaid Expenses
12,000
10,000
Total Current Assets
170,000
204,000
PP&E
105,000
85,000
Total Assets
275,000
289,000
Prepare a horizontal and vertical analysis of Total Assets
XYZ Inc's comparative balance sheets are presented below.
XYZ Inc.
Comparative Balance Sheets
31-Dec
2021
2020
Cash
$ 18,700
$ 22,700
Accounts Receivable
$ 24,700
$ 22,300
Investments
$ 25,000
$ 16,000
Equipment
$ 59,000
$ 70,000
Accumulated Depreciation
$ (14,500)
$ (10,000)
Total Assets
$ 112,900
$ 121,000
Accounts Payable
$ 13,600
$ 11,100
Binds Payable
$ 6,000
$ 30,000
Common Stock
$ 50,000
$ 45,000
Retained Earnings
$ 43,300
$ 34,900
Total Liabilities + Equity
$ 112,900
$ 121,000
Additional information:
Net income was $17,700. Dividends declared and paid were $9,300.
Equipment which cost $11,000 and had accumulated depreciation of $2,000 was sold for $4000
All other changes in noncurrent account balances had a direct effect on cash flows, except the change in…
Vockery Market Co.
Balance Sheet
2018
2017
Cash
20,000
24,000
ST Investments
18,000
26,000
Net Accounts Receivable
50,000
78,000
Inventory
70,000
66,000
Prepaid Expenses
12,000
10,000
Total Current Assets
170,000
204,000
PP&E
105,000
85,000
Total Assets
275,000
289,000
Total Current Liabilities
130,000
120,000
Income Statement:
Net Sales
478,000
Cost of Goods Sold
318,000
Compute the following ratios:
Current ratio
Acid-test ratio
Inventory turnover
Days' sales in inventory
Days' sales in receivables
Gross profit percentage
Chapter 12 Solutions
Financial Accounting - Access
Ch. 12 - Prob. 1RQCh. 12 - Prob. 2RQCh. 12 - Prob. 3RQCh. 12 - Prob. 4RQCh. 12 - 5.In performing horizontal analysis, why is it...Ch. 12 - Prob. 6RQCh. 12 - Prob. 7RQCh. 12 - Prob. 8RQCh. 12 - Prob. 9RQCh. 12 - Prob. 10RQ
Ch. 12 - Prob. 11RQCh. 12 - Prob. 12RQCh. 12 - Prob. 13RQCh. 12 - Prob. 14RQCh. 12 - Prob. 15RQCh. 12 - Prob. 16RQCh. 12 - Prob. 17RQCh. 12 - Prob. 18RQCh. 12 - Prob. 19RQCh. 12 - Prob. 20RQCh. 12 - Prob. 12.1BECh. 12 - Prob. 12.2BECh. 12 - Prob. 12.3BECh. 12 - Prob. 12.4BECh. 12 - Prob. 12.5BECh. 12 - Universal Sports Supply began the year with an...Ch. 12 - Prob. 12.7BECh. 12 - Prob. 12.8BECh. 12 - Prob. 12.9BECh. 12 - Prob. 12.10BECh. 12 - Prob. 12.11BECh. 12 - Prob. 12.12BECh. 12 - Prob. 12.13BECh. 12 - Classify each of the following accounting...Ch. 12 - Classify each of the following accepted accounting...Ch. 12 - Prob. 12.1ECh. 12 - Prob. 12.2ECh. 12 - Prob. 12.3ECh. 12 - Prob. 12.4ECh. 12 - Prob. 12.5ECh. 12 - Refer to the information for Adrian Express in...Ch. 12 - Prob. 12.7ECh. 12 - Calculate profitability ratios (LO124) Refer to...Ch. 12 - Prob. 12.9ECh. 12 - The income statement for Stretch-Tape Corporation...Ch. 12 - Prob. 12.11ECh. 12 - LeBrons Bookstores has two divisions, books and...Ch. 12 - Prob. 12.13ECh. 12 - Prob. 12.14ECh. 12 - Distinguish between conservative and aggressive...Ch. 12 - Prob. 12.1APCh. 12 - Prob. 12.2APCh. 12 - Prob. 12.3APCh. 12 - Prob. 12.4APCh. 12 - Prob. 12.5APCh. 12 - Prob. 12.6APCh. 12 - Game-On Sports operates in two distinct segments:...Ch. 12 - Prob. 12.2BPCh. 12 - Prob. 12.3BPCh. 12 - Prob. 12.4BPCh. 12 - Prob. 12.5BPCh. 12 - Prob. 12.6BPCh. 12 - Prob. 12.1APCPCh. 12 - Prob. 12.2APFACh. 12 - Prob. 12.3APFACh. 12 - Prob. 12.4APCACh. 12 - Prob. 12.5APECh. 12 - Prob. 12.7APWCCh. 12 - Prob. 12.8APEM
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