Problem 24-4 Presented below is the comparative balance sheet for Carla Company

Question

Problem 24-4 Presented below is the comparative balance sheet for Carla Company CARLA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2018 AND 2017 December 31 2018 2017 Asset Cash Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant & equipment Accumulated depreciation $180,100 $277,000 155,500 151,500 974,800 25,200 2,577,000 1,967,200 221,800 270,000 1,070,000 25,200 (1,007,100) (753,900) $3,337,000 $2,797,300 Liabilities and Stockholder Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $74,400 200,200 189,200 2,100,400 1,784,900 548,600 $3,337,000 $2,797,300 $49,500 169,900 453,000 564,200

Explanation / Answer

Part 1 Comparative Balance Sheet showing the percent each item is of total assets or total liabilities and stockholder's equity.

Calra Company

Comparative Balance Sheet for the year ended December 31, 2018 & 2017

Part 2 Comparative Balance Sheet showing the dollar change and the percentage change for each item

Calra Company

Comparative Balance Sheet for the year ended December 31, 2018 and 2017

Increase or (Decrease) ($)

(C = A - B)

Increase or (Decrease) (%)

(D = C/B*100)

Increase or (Decrease) ($)

(C =A - B)

Increase or (Decrease) (%)

(D = C/B*100)

i) The increase or decrease in each item in above part 2 is calculated by subtracting 2017 items from 2018 items in $ and the increase or (decrease) in % is calculated by dividing net increase or decrease by 2017 balance of items.

Assets 2018 (Amounts in $) (A) 2018 (in %) (A/C*100) 2017 (Amount in $) (B) 2017 (in %) (B/D*100) Cash 180,100 5.40% 277,000 9.90% Accounts Receivables (net) 221,800 6.65% 155,500 5.56% Investments 270,000 8.09% 151,500 5.42% Inventories 1,070,000 32.06% 974,800 34.85% Prepaid Expenses 25,200 0.75% 25,200 0.90% Plant & Equipment 2,577,000 77.23% 1,967,200 70.32% Accumulated Depreciation (1,007,100) (30.18%) (753,900) (26.95%) Total 3,337,000 (C) 100% 2,797,300 (D) 100% Liabilities & Stockholders equity 2018 (Amount in $) (A) 2018 (in %) (A/C*100) 2017 (Amount in $) (B) 2017 (in %) (B/D*100) Accounts Payable 49,500 1.48% 74,400 2.66% Accrued Expenses 169,900 5.09% 200,200 7.16% Bonds Payable 453,000 13.58% 189,200 6.76% Capital Stock 2,100,400 62.94% 1,784,900 63.81% Retained Earnings 564,200 16.91% 548,600 19.61% Total 3,337,000 (C) 100% 2,797,300 (D) 100%

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