This Question: 1 pt This Test: 13 pts 9 of 13 complete More Info Complete the ve

Question

This Question: 1 pt This Test: 13 pts 9 of 13 complete More Info Complete the vertical analysis on the balance sheet for the bakery for 2012 Click the icon to view the bakery balance sheet. Bakery Balance Sheet December 31, 2012 Bakery Balance Sheet December 31, 2012 Assets Cash Accounts receivable Merchandise inventory Total assets $2,029 4,117 2,557 $8,703 Amount Percent Assets Cash Accounts receivable Merchandise inventory Total assets $2,029 4,117 2,557 $8,703 Liabilities Accounts payable Wages payable Total liabilities $3,493 1,635 $5,128 Liabilities Accounts payable Wages payable Total liabilities $3.493 1,635 $5,128 Owner's equity The owner's capital Total liabilities and owner's equity 3,575 $8,703 Print Done Owner's eauitv Enter your answer in each of the answer boxes.

Explanation / Answer

Solution:

(A). Owners Capital Ratio:

Owners Capital = $ 8,703 = $ 8,703

OR

Owners Capital = $ 8,703 /  $ 12,278 * 100

   = 70.08 %

(B). Total Liabilities and Owner's Equity:

Assets = $ 5,128 + $ 12,278

   = 17,406

Owner's Equity = 8,703 - 5,128

   = 3,575

   Owners Capital = Total Liabilities = Total Assets

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