% OF TOTAL ASSETS 2013 % OF TOTAL ASSETS 2014 12/31/2013 12/31/2014 Current Asse
ID: 2560617 • Letter: #
Question
% OF TOTAL ASSETS 2013 % OF TOTAL ASSETS 2014 12/31/2013 12/31/2014 Current Assets: Cash Marketable Securities Accounts Receivable Inventories Prepaid Insurance Total Current Assets 20,000 15,000 24,000 36,000 4,800 99,800 15,000 5,000 20,000 48,000 3,600 91,600 Fixed Assets 250,000 250,000 1,500,000 1,500,000 525,000 2,200,000 2,275,000 (600,000) (650,000) 1,600,000 1,625,000 1,699,800 1,716,600 Land Building 450,000 quipment Total Fixed Assets Less: Accm. Depreciation Total Net Fixed Assets TOTAL ASSETS % OF TOTAL L&E; 2013 % OF TOTAL L&E; 2014 Current Liabilities: Advance Deposits Notes Payable Accounts Payable Wages Payable Total Current Liabilities 5,000 15,000 25,000 14,800 59,800 13,000 28,000 30,000 8,400 79,400 Long Term Liabilities Long Term Loan 750,000720,000 Owners' Equity: Retained Earnings Common Stock Total Owners Equity 240,000 650,000 890,000 267,200 650,000 917,200 TTL LIABILITIES & 1.699.800 1,716,600 EQUITYExplanation / Answer
12/31/2013 12/31/2014 % OF TOTAL ASSETS 2013 % OF TOTAL ASSETS 2014 Current Assets: Cash 20,000 15,000 1.18% 0.87% Marketable Securities 15,000 5,000 0.88% 0.29% Account Receivable 24,000 20,000 1.141% 1.17% Inventory 36,000 48,000 2.12% 2.80% Prepaid Insurance 4,800 3,600 0.28% 0.21% Total Current Assets 99,800 91,600 5.87% 5.34% Fixed Assets: Land 250,000 250,000 14.71% 14.56% Building 1,500,000 1,500,000 88.25% 87.38% Equipment 450,000 525,000 26.47% 30.58% Total Fixed Assets 2,200,000 2,275,000 129.43% 132.53% Less: Accm. Depreciation (600,000) (650,000) (35.30%) (37.87%) Total Net Fixed Assets 1,600,000 1,625,000 94.13% 94.66% TOTAL ASSETS 1,699,800 1,716,600 100.00% 100.00% % OF TOTAL L&E 2013 % OF TOTAL L&E 2014 Current Liabilities: Advance Deposits 5,000 13,000 0.29% 0.76% Notes Payable 15,000 28,000 0.88% 1.63% Accounts Payable 25,000 30,000 1.47% 1.75% Wages Payable 14,800 8,400 0.87% 0.49% Total Current Liabilities 59,800 79,400 3.52% 4.63% Long Term Liabilities Long Term Loan 750,000 720,000 44.12% 41.94% Owner's Equity: Retained Earnings 240,000 267,200 14.12% 15.57% Common Stock 650,000 650,000 38.24% 37.87% Total Owners Equity 890,000 917,200 52.36% 53.43% Total Liabilities and Equity 1,699,800 1,716,600 100.00% 100.00%
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