iuDuction to Financial Accounting / Module 15 Questions a *Exercise 13-3 Here is

Question

iuDuction to Financial Accounting / Module 15 Questions a *Exercise 13-3 Here is financial information for Tamarisk, Inc.. December 31, 2019 December 31, 2018 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings $105,210 432,024 91,636 135,598 117,495 192,505 $90,000 376,000 62,000 94,000 105,000 205,000 Prepare a schedule showing a horizontal analysis for 2019, using 2018 as the base year (If amount and pe a decrease show the numbers as negative, e-g. 55,000-20% or (55,000), (20%). Round percent decimal place, eg. 12.1%.) TAMARISK, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2018 Amount Percentage 2019 Assets

Explanation / Answer

Prepare horizontal analysis :

Increase (decrease) 2019 2018 Amount Percentage Assets Current assets 105210 90000 15210 16.9% Plant assets (net) 432024 376000 56024 14.9% Total Assets 537234 466000 71234 15.3% Liabilities Current liabilities 91636 62000 29636 47.8% Long term liabilities 135598 94000 41598 44.3% Total liabilities 227234 156000 71234 45.7% Stockholder's equity Common stock $1 par 117495 105000 12495 11.9% Retained earnings 192505 205000 -12495 -6.1% Total stockholder's equity 310000 310000 0 0 Total liabilities and stockholder's equity 537234 466000 71234 15.3%

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