11
Use this information for Kellman Company to answer the question
that follow.
The balance sheets...
11
Use this information for Kellman Company to answer the question
that follow.
The balance sheets at the end of each of the first two years of
operations indicate the following:
Kellman Company
Year 2
Year 1
Total current assets
$610,100
$574,800
Total investments
60,000
40,500
Total property, plant, and equipment
898,900
693,700
Total current liabilities
107,400
84,900
Total long-term liabilities
283,500
228,500
Preferred 9% stock, $100 par
88,500
88,500
Common stock, $10 par
548,800
548,800
Paid-in capital in excess...
Use this information for Kellman Company to answer the question
that follow.
The balance sheets at...
Use this information for Kellman Company to answer the question
that follow.
The balance sheets at the end of each of the first two years of
operations indicate the following:
Kellman Company
Year 2
Year 1
Total current assets
$601,300
$554,700
Total investments
65,500
53,500
Total property, plant, and equipment
885,600
794,300
Total current liabilities
108,600
83,300
Total long-term liabilities
290,300
225,400
Preferred 9% stock, $100 par
83,400
83,400
Common stock, $10 par
574,200
574,200
Paid-in capital in excess of...
Lydex Company
Comparative Balance Sheet
This Year
Last Year
Assets
Current assets:
Cash
$
940,000 ...
Lydex Company
Comparative Balance Sheet
This Year
Last Year
Assets
Current assets:
Cash
$
940,000
$
1,200,000
Marketable securities
0
300,000
Accounts receivable, net
2,620,000
1,720,000
Inventory
3,580,000
2,300,000
Prepaid expenses
250,000
190,000
Total current assets
7,390,000
5,710,000
Plant and equipment, net
9,480,000
9,030,000
Total assets
$
16,870,000
$
14,740,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities
$
3,880,000
$
2,940,000
Note payable, 10%
3,660,000...
The comparative financial statements for Prince Company are
below:
Year 2
Year 1
Income statement:...
The comparative financial statements for Prince Company are
below:
Year 2
Year 1
Income statement:
Sales revenue
$
206,000
$
171,000
Cost of goods sold
116,000
101,600
Gross profit
90,000
69,400
Operating expenses and interest expense
57,600
53,800
Pretax income
32,400
15,600
Income tax
9,600
4,800
Net income
$
22,800
$
10,800
Balance sheet:
Cash
$
5,600
$
7,800
Accounts receivable (net)
14,800
18,800
Inventory
41,600
34,800
Property and equipment (net)
47,400
39,600
Total assets
$
109,400
$
101,000...
1.
Use this information for Kellman Company to answer the question
that follow.
The balance sheets...
1.
Use this information for Kellman Company to answer the question
that follow.
The balance sheets at the end of each of the first two years of
operations indicate the following:
Kellman Company
Year 2
Year 1
Total current assets
$619,100
$587,500
Total investments
61,200
51,000
Total property, plant, and equipment
881,400
694,300
Total current liabilities
111,200
88,100
Total long-term liabilities
304,700
230,800
Preferred 9% stock, $100 par
95,600
95,600
Common stock, $10 par
561,300
561,300
Paid-in capital in excess...
Simon Company's year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs...
Simon Company's year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs Ago
Assets
Cash
$
36,724
$
43,360
$
44,273
Accounts receivable, net
106,437
73,604
60,801
Merchandise inventory
132,473
99,268
63,502
Prepaid expenses
12,304
11,610
5,018
Plant assets, net
340,789
314,164
273,606
Total assets
$
628,727
$
542,006
$
447,200
Liabilities and Equity
Accounts payable
$
151,856
$
91,599
$
58,440
Long-term notes payable secured by
mortgages on plant assets
115,837
124,661
98,831
Common stock,...
FORTEN COMPANY
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
58,900
$...
FORTEN COMPANY
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
58,900
$
79,500
Accounts receivable
74,830
56,625
Inventory
284,656
257,800
Prepaid expenses
1,270
2,015
Total current assets
419,656
395,940
Equipment
151,500
114,000
Accum. depreciation—Equipment
(39,625
)
(49,000
)
Total assets
$
531,531
$
460,940
Liabilities and Equity
Accounts payable
$
59,141
$
123,675
Short-term notes payable
11,800
7,200
Total current liabilities
70,941
130,875
Long-term notes payable
62,000
54,750
Total liabilities
132,941
185,625
Equity
Common stock, $5...
December 31, 2020 December 31, 2019 Current assets $124,400
$100,000 Plant assets (net) 394,272 333,000 Current...
December 31, 2020 December 31, 2019 Current assets $124,400
$100,000 Plant assets (net) 394,272 333,000 Current liabilities
85,994 73,000 Long-term liabilities 132,675 87,000 Common stock, $1
par 166,750 115,000 Retained earnings 133,253 158,000 Prepare a
schedule showing a horizontal analysis for 2020, using 2019 as the
base year. (Enter negative amounts and percentages using either a
negative sign preceding the number e.g. -45, -45% or parentheses
e.g. (45), (45%). Round percentages to 1 decimal place, e.g.
12.3%.) GLITTER INC. Condensed...
Simon Company’s year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs...
Simon Company’s year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs Ago
Assets
Cash
31,900
34,500
37,200
Accounts receivable, net
89,600
64,500
56,500
Merchandise inventory
90,869
84,600
50,700
Prepaid expenses
10,075
9,532
3,520
Plant assets, net
302,556
251,868
172,080
Total assets
525,000
445,000
320,000
Liabilities and Equity
Accounts payable
134,647
75,205
41,395
Long-term notes payable secured by
mortgages on plant assets
96,726
103,374
70,013
Common stock, $10 par value
162,500
162,500
162,500
Retained earnings
131,127...
Simon Company’s year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs...
Simon Company’s year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs Ago
Assets
Cash
$
31,100
$
34,700
$
37,800
Accounts receivable, net
89,300
64,900
57,600
Merchandise inventory
79,076
82,400
56,000
Prepaid expenses
10,274
9,438
4,264
Plant assets, net
315,250
253,562
224,336
Total assets
$
525,000
$
445,000
$
380,000
Liabilities and Equity
Accounts payable
$
132,032
$
72,949
$
49,658
Long-term notes payable secured by
mortgages on plant assets
97,713
105,421
82,300
Common stock,...