r: per:! u h ubr t al tmw:/y: til utilini yT: t1R t kan she .E tin 2017 :e fix h
ID: 2559943 • Letter: R
Question
r: per:! u h ubr t al tmw:/y: til utilini yT: t1R t kan she .E tin 2017 :e fix hu Negative an ounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place. i 4 y Balance Sheets December 31 Year Increase (Decrease) 2018 2017 Assets Current assets: Cash Accounts receivable Inventor Prepaid rent S 217,800| 147420 101,700 94,500 23,400 152.880 11,700 Long-term assets Investment in bonds Land Equipment Less: Accumulated depreciation 126,000 183,600 231,300 78,300) 250.380 207, 430 Total assets $ 900,0005 780,000 Liabilities and Stockholders" Equity Current iabilities Accounts payable Interest payable Income tax payable 67,500 102.180 23,400 22,500 11,700 14.820 Long-term liabilities Notes payable 304,200 267,540 Stockholders' equity: 280,800 102 960 5 900,000 T80.000 Common stock 280,800 Retained earnings 201,600 Total liabilities and stockholders' equityExplanation / Answer
ans)
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Balance sheets
December 31
Year Increase (Decrease)
* 217800 - 147420 = 70380
% increase = 70380 / 147420 = 47.74%
2018 2017 Amount % Assets Current assets Cash 217800 147420 70380* 47.74% Accounts receivable 101700 52260 49440 94.6% Inventory 94500 152880 (58380) -38.18% Prepaid rent 23400 11700 11700 100% Long term assets Investment in bonds 126000 0 126000 --- Land 183600 250380 (66780) -26.67% Equipment 231300 207480 23820 11.48% Less: Accumulated depreciation (78300) (42120) (36180) -85.89% Total Assets 900,000 780,000 120000 15.38% Liabilities and stock holders equity Current liabilities Accounts payable 67500 102180 (34680) -33.9% Interestpayable 23400 11700 11700 100% Income tax payable 22500 14820 7680 51.82% Long term liabilities Notes payable 304200 267540 36660 13.7% Stock holders equity Common stock 280800 280800 0 --- Retained earnings 201600 102960 98640 95.8 Total liabilities and stock holders equity 900,000 780,000 120000 15.38%Related Questions
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