The following information pertains to Ortiz Company. Assume that
all balance sheet amounts represent both average...
The following information pertains to Ortiz Company. Assume that
all balance sheet amounts represent both average and ending balance
figures. Assume that all sales were on credit.
Assets
Current
assets
$ 95,000
Property, plant and
equipment
210,000
Total
Assets
$305,000
Liabilities and Stockholders’ Equity
Current
liabilities
$ 50,000
Long-term
liabilities
95,000
Stockholders’
equity—common
160,000
Total Liabilities and Stockholders’
Equity
$305,000
Income Statement
Sales
$ 110,000
Cost of goods
sold
66,000
Gross
profit
44,000
Operating
expenses
30,000...
Concord Corporation's balance sheet accounts as of December 31,
2021 and 2020 and information relating to...
Concord Corporation's balance sheet accounts as of December 31,
2021 and 2020 and information relating to 2018 activities are
presented below.
December
31,
2021
2020
Assets
Cash
$ 438000
$ 199000
Short-term investments
598000
—
Accounts receivable (net)
1030000
1030000
Inventory
1390000
1180000
Long-term investments
401000
598000
Plant assets
3390000
2000000
Accumulated depreciation
(901000)
(901000)
Patent
178000
201000
Total assets
$6524000
$4307000
Liabilities and Stockholders'
Equity
Accounts payable and accrued
liabilities
$1660000
$1460000
Notes payable...
1) Berkshire LLC reported the following income statement and
balance sheet amounts on December 31, 2011....
1) Berkshire LLC reported the following income statement and
balance sheet amounts on December 31, 2011.
2011
2010
Net sales revenue (all credit)
$950,000
Cost of goods sold
630,000
Gross profit
320,000
Selling and general expenses
230,000
Interest expense
20,000
Net income
$70,000
Current assets
$60,000
$55,000
Long-term assets
465,000
445,000
Total assets - 12/31
$525,000
$500,000
Current liabilities
$25,000
$20,000
Long-term liabilities
105,000
205,000
Common stockholders’ equity - 12/31
395,000
275,000
Total liabilities and...
Vertical Analysis of Balance Sheet
Balance sheet data for a company for the years ended December...
Vertical Analysis of Balance Sheet
Balance sheet data for a company for the years ended December
31, 20Y2 and 20Y1, are shown below.
20Y2
20Y1
Current assets
$ 1,500,000
$ 1,200,000
Property, plant, and equipment
12,500,000
10,800,000
Intangible assets
2,000,000
2,000,000
Current liabilities
1,000,000
850,000
Long-term liabilities
3,000,000
2,400,000
Common stock
2,500,000
2,500,000
Retained earnings
9,500,000
8,250,000
Prepare a comparative balance sheet for 20Y2 and 20Y1, stating
each asset as a percent of total assets and each liability and
stockholders’...
Vertical Analysis of Balance Sheet
Balance sheet data for Hanes Company on December 31, the end...
Vertical Analysis of Balance Sheet
Balance sheet data for Hanes Company on December 31, the end of
the fiscal year, are shown below.
20Y2
20Y1
Current assets
356,660
204,620
Property, plant, and equipment
576,950
527,290
Intangible assets
115,390
55,090
Current liabilities
209,800
125,920
Long-term liabilities
440,580
354,150
Common stock
115,390
110,180
Retained earnings
283,230
196,750
Prepare a comparative balance sheet for 20Y2 and 20Y1, stating
each asset as a percent of total assets and each liability and
stockholders' equity item...
Balance Sheet
The following balance sheet contains errors.
ATLAS SERVICES CO.
Balance Sheet
For the Year...
Balance Sheet
The following balance sheet contains errors.
ATLAS SERVICES CO.
Balance Sheet
For the Year Ended May 31,
20Y5
Assets
Current assets:
Cash
$ 12,000
Accounts payable
47,900
Supplies
4,800
Prepaid insurance
17,400
Land
400,000
Total current assets
$482,100
Property, plant, and equipment:
Building
$ 225,000
Equipment
90,000
Total property, plant, and equipment
315,000
Total assets
$797,100
Liabilities
Current liabilities:
Accounts receivable
$ 40,800
Accumulated depreciation—building
54,600
Accumulated depreciation—equipment
32,400
Net loss
44,200
Total liabilities
$172,000
Stockholders’ Equity
Wages...
Balance Sheet Calculations
Fermer Company's balance sheet information at the end of 2016
and 2017 is...
Balance Sheet Calculations
Fermer Company's balance sheet information at the end of 2016
and 2017 is as follows:
2016
2017
Total shareholders' equity
$ (a)
$100,700
Accumulated other comprehensive income
4,800
5,000
Current liabilities
(b)
9,800
Intangible assets
12,600
12,000
Property, plant, and equipment (net)
(c)
87,500
Current assets
21,000
(h)
Total contributed capital
51,000
(i)
Long-term liabilities
(d)
30,200
Retained earnings
42,900
(j)
Total assets
(e)
(k)
Common stock, $10 par
(f)
(l)
Working capital
9,900
10,200
Additional paid-in...
Vertical Analysis of Balance Sheet
Balance sheet data for Hanes Company on December 31, the end...
Vertical Analysis of Balance Sheet
Balance sheet data for Hanes Company on December 31, the end of
the fiscal year, are shown below.
2014
2013
Current assets
$306,560
$179,750
Property, plant, and equipment
517,320
460,160
Intangible assets
134,120
79,090
Current liabilities
220,340
129,420
Long-term liabilities
354,460
301,980
Common stock
105,380
93,470
Retained earnings
277,820
194,130
Hide
Prepare a comparative balance sheet for 2014 and 2013, stating
each asset as a percent of total assets and each liability and
stockholders' equity...
The following balance sheet information is provided for Duke
Company for Year 2: Assets Cash $...
The following balance sheet information is provided for Duke
Company for Year 2: Assets Cash $ 5,400 Accounts receivable 15,500
Inventory 18,000 Prepaid expenses 1,600 Plant and equipment, net of
depreciation 20,200 Land 19,950 Total assets $ 80,650 Liabilities
and Stockholders' Equity Accounts payable $ 4,500 Salaries payable
11,500 Bonds payable (Due in ten years) 19,000 Common stock, no par
30,000 Retained earnings 15,650 Total liabilities and stockholders'
equity $ 80,650 What is the company's current ratio?
Vertical Analysis of Balance Sheet
Balance sheet data for Alvarez Company on December 31, the end...
Vertical Analysis of Balance Sheet
Balance sheet data for Alvarez Company on December 31, the end
of two recent fiscal years, follows:
Current Year
Previous Year
Current assets
$308,700
$185,280
Property, plant, and equipment
596,820
532,680
Intangible assets
123,480
54,040
Current liabilities
246,960
131,240
Long-term liabilities
391,020
324,240
Common stock
82,320
77,200
Retained earnings
308,700
239,320
Prepare a comparative balance sheet for both years, stating each
asset as a percent of total assets and each liability and
stockholders' equity item...