Required information [The following information applies to the questions display
ID: 2574028 • Letter: R
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Required information [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment 306 159 $ 11 230 195 482 507 85 422 26 $ 930 442 429 71 358 32 $832 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Totalliabilities Common stock Retained earnings Total stockholders' equity $ 304 71 72 447 198 645 163 122 285 $ 930 $224 78 64 366 172 538 200 94 294 $832 Total liabilities and stockholders' equityExplanation / Answer
comparative financial statement of weaver company at 31stdecember
particulars
Last year
This year
Absolute change
percentage change
Assets
Cash
$ 11
$ 8
($3)
-27.27%
accounts receivable
$ 230
$ 306
$ 76
33%
Inventory
$ 195
$ 159
($36)
-18.46%
prepaid expenses
$ 6
$ 9
$ 3
50%
Total current assets
$ 442
$ 482
$ 40
9.04%
property, plant and equipment
$ 429
$ 507
$ 78
18.18%
Less: accumulated depreciation
($71)
($85)
($14)
-19.71%
net property, plant, and equipment
$ 358
$ 422
$ 64
11.89%
long term investment
$ 32
$ 26
($6)
-19%
total assets
$ 832
$ 930
$ 98
11.77%
Liabilities and stockholder equity
accounts payable
$ 224
$ 304
$ 80
35.71%
accrued liabilities
$ 78
$ 71
($7)
-8.97%
income tax payable
$ 64
$ 72
$ 8
12.50%
Total current liabilities
$ 366
$ 447
$ 81
22.13%
bonds payable
$ 172
$ 198
$ 26
15.11%
Total liabilities
$ 538
$ 645
$ 107
19.88%
common stock
$ 200
$ 163
($37)
-18.50%
retained earnings
$ 94
$ 122
$ 28
29.78%
total stock holder equity
$ 294
$ 285
($9)
-3.06%
Total liabilities and stockholder equity
$ 832
$ 930
$ 98
11.77%
Absolute change=difference in change in last year when compared to this year .it means increase or decrease in last year and current year
Percentage change = (absolute change/last year)*100
comparative financial statement of weaver company at 31stdecember
particulars
Last year
This year
Absolute change
percentage change
Assets
Cash
$ 11
$ 8
($3)
-27.27%
accounts receivable
$ 230
$ 306
$ 76
33%
Inventory
$ 195
$ 159
($36)
-18.46%
prepaid expenses
$ 6
$ 9
$ 3
50%
Total current assets
$ 442
$ 482
$ 40
9.04%
property, plant and equipment
$ 429
$ 507
$ 78
18.18%
Less: accumulated depreciation
($71)
($85)
($14)
-19.71%
net property, plant, and equipment
$ 358
$ 422
$ 64
11.89%
long term investment
$ 32
$ 26
($6)
-19%
total assets
$ 832
$ 930
$ 98
11.77%
Liabilities and stockholder equity
accounts payable
$ 224
$ 304
$ 80
35.71%
accrued liabilities
$ 78
$ 71
($7)
-8.97%
income tax payable
$ 64
$ 72
$ 8
12.50%
Total current liabilities
$ 366
$ 447
$ 81
22.13%
bonds payable
$ 172
$ 198
$ 26
15.11%
Total liabilities
$ 538
$ 645
$ 107
19.88%
common stock
$ 200
$ 163
($37)
-18.50%
retained earnings
$ 94
$ 122
$ 28
29.78%
total stock holder equity
$ 294
$ 285
($9)
-3.06%
Total liabilities and stockholder equity
$ 832
$ 930
$ 98
11.77%
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