Perform a horizontal analysis and put the correct answer in the appropriate blocks for only these account line items: Cash, A/R, Accounts Payable, Other Liabilities, Sales, and Solling & Admin Exp. When necessary round to the nearest tenth. You must use parentheses to mark a negative change. For example: a negative change from 2021 to 2022 of $30,000 would be written (S30,000) Make sure to answer the last column - whether the change is deemed as a positive or negative based on the line item in the financial statements (for example is an increase in expenses a positive or negative variance?) You must put in the answer box, the word "positive" or "negative". Base your answer strictly on the results of the horizontal analysis for that line item.

Perform a horizontal analysis and put the correct answer in the appropriate blocks for only these account line items: Cash, A/R, Accounts Payable, Other Liabilities, Sales, and Solling & Admin Exp. When necessary round to the nearest tenth. You must use parentheses to mark a negative change. For example: a negative change from 2021 to 2022 of $30,000 would be written (S30,000) Make sure to answer the last column - whether the change is deemed as a positive or negative based on the line item in the financial statements (for example is an increase in expenses a positive or negative variance?) You must put in the answer box, the word "positive" or "negative". Base your answer strictly on the results of the horizontal analysis for that line item.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Your answer is partially correct. Try again. Using these data from the comparative balance sheet of Cullumber Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.) Increase or (Decrease) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Accounts receivable $ 608,400 $ 520,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal places. % Inventory $ 931,700 $ 770,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. % Total assets $3,381,000 $2,940,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. %
Complete a horizontal analysis for Brown Company. (Negative answers should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round the "percent" answers to the nearest hundredth percent.) Answer is complete but not entirely correct. BROWN COMPANY Comparative Balance Sheet December 31, 2020 and 2019 Increase (Decrease) 2020 2019 Amount Percent Assets Current assets: Cash 15,750 10.500 5,250 O 50.00 O Accounts receivable 18,000 13,500 4,500 O (3,750) O 9,000 O 15,000 O 33.33 Merchandise inventory 18,750 22,500 Prepaid advertising 16.67 O 54,000 45,000 20.00 Total current assets 106,500 91,500 Plant and equipment 16.39 Building (net) 120,000 Is 126,000 (6,000)O 4.76 0 Land 90,000 90,000 Total plant and equipment 210,000 216,000 (6,000) O 2.78 Total assets 316,500 is 307,500 8,500 2.76 O
Perform a horizontal analysis providing both the amount and percentage change. (Round your Percentage answers to 1 decimal place. Decreases should be indicated by a minus sign.) Year 2021 2020 Cash $ 420,000 $ 1,050,000 Accounts receivable 660,000 300,000 Inventory 1,020,000 925,000 Long-term assets 3,900,000 2,725,000 Total assets $ 6,000,000 $ 5,000,000
Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dash—both in dollar amounts and in percentageslong dash—for 20192019 and 20182018. (Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) McDonald Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 (Amounts in millions) 2019 2018 2017 Revenues $9,575 $9,300 $8,975 Cost of Goods Sold 6,250 6,000 5,890 Gross Profit
View Policies Show Attempt History Current Attempt in Progress Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,480 Direct materials used 253,600 Work in process (1/1/2020) 31,000 Work in process (12/31/2020) 27,200 Finished goods (1/1/2020) 35,300 Finished goods (12/31/2020) 29,100 Factory utilities 41,500 Depreciation, factory equipment 34,400 Direct labour 303,300 Indirect materials 22,600 Factory manager's salary 63,100 Selling and administrative expenses 341,300 Net sales 1,243,000 Factory machinery rent 42,900
Wolmore Resources Ltd. is authorized to issue unlimited numbers of common shares, of which 40,500,000 have been issued at an average price of $22 per share. On 1 January 20X3, when shares were trading for $30 per share, the company granted stock options to each of its 42 senior executives. The stock options provide that each individual will be eligible to purchase, no earlier than 31 December 20X7, 3,000 common shares at a base option price of $30 per share. The options are nontransferable, vest on 31 December 20X7, and expire on 31 December 20X8. Option pricing models indicate that the options have a total value of $480,000. Estimates of retention are: End of Year Employees expected to remain until vesting Employees expected to forfeit Employees actually forfeiting in the year Employees actually receiving options (42 - 7) 20X3 32 (76%) 10 (24%) 0 20X4 30 (71%) 12 (29%) 5 20X5 35 (83%) 7 (17%) 2 20X6 34 (81%) 8 (19%) 0 20X7 n/a n/a 0 35 Twenty-five individuals who received the options…
Tamarisk, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2025 are projected as follows. Quarter First Second Third Fourth Annual total Units 67,200 126,000 462,000 100,800 756,000 Tamarisk incurs variable manufacturing costs of $0.30 per unit and variable nonmanufacturing costs of $0.35 per unit. Tamarisk will incur fixed manufacturing costs of $604,800 and fixed nonmanufacturing costs of $907,200. Tamarisk will sell its product for $4 per unit.
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. For each account on this company’s balance sheet, show the change in the account during 2021 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Leave no cells blank - be certain to enter "0" wherever required. A negative answer should be indicated by a minus sign.)
Prepare an income statement for the year ended December 31,2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Calculate the following ratios for 2025 and 2026. (Round current ratio to 2 decimal places, e.g. 12.61, debts to assets and gross profit rate to 0 decimal places, e.g.12, and all other answers to 1 decimal place, e.g. 12.6%) Please show your work. 1. Current ratio 2. Debts to assets 3. Gross profit rate 4. Profit margin 5. Return on assets (Total assets at November 1, 2024, were $35,180) 6. Return on common stockholder's equity (Total common stockholders' equity at November 1, 2024, was $25, 180. Dividends on preferred stock were $16,800 in 2025 and $18,000 in 2026)
please help fill in the blanks Required:1. Prepare a vertical analysis of Sports Unlimited's 2024 and 2023 balance sheets. Express each amount as a percentage of total assets for that year. (Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Complete a Vertical analysis of the "Unearned revenue" account using the balance sheet as at 30/06/2021. Round the percentage change to one decimal place