The comparative condensed balance sheets of Gurley Corporation
are presented below.
GURLEY CORPORATION
Comparative Condensed Balance...
The comparative condensed balance sheets of Gurley Corporation
are presented below.
GURLEY CORPORATION
Comparative Condensed Balance Sheets
December 31
2017
2016
Assets
Current assets
$ 74,500
$ 81,600
Property, plant, and equipment
(net)
97,500
91,000
Intangibles
28,200
39,000
Total assets
$200,200
$211,600
Liabilities and stockholders’ equity
Current liabilities
$ 41,800
$ 47,400
Long-term liabilities
141,800
151,200
Stockholders’ equity
16,600
13,000
Total liabilities and
stockholders’ equity
$200,200
$211,600
(a)
Prepare a horizontal analysis of the balance sheet data for
Gurley Corporation...
Common-Sized Balance Sheets
The following end-of-the-year balance sheets (in millions) were
adapted from recent financial statements...
Common-Sized Balance Sheets
The following end-of-the-year balance sheets (in millions) were
adapted from recent financial statements of Apple
(AAPL).
Year 1
Year 2
Current assets:
Cash
$13,844
$21,120
Marketable
securities
11,233
20,481
Accounts
receivable
27,219
30,343
Inventory
2,111
2,349
Other
14,124
15,085
Total current
assets
$68,531
$89,378
Long-term assets:
Long-term marketable
securities
$130,162
$164,065
Property, plant, and
equipment
20,624
22,471
Other long-term
assets
12,522
14,565
Total long-term
assets
$163,308
$201,101
Total assets
$231,839
$290,479
Current liabilities:
Accounts payable and
similar...
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
$327,950
$203,870
Property, plant, and equipment
477,870
435,860
Intangible assets
131,180
63,270
Current liabilities
215,510
119,510
Long-term liabilities
365,430
281,200
Common stock
103,070
98,420
Retained earnings
252,990
203,870
Prepare a comparative balance sheet for both years, stating each
asset as a percent of total assets and each liability and
stockholders' equity item...
CCC - Balance sheets 31 December 2018, 2017 assets 2018 2017
Fixed assets, net 600,000 500,000...
CCC - Balance sheets 31 December 2018, 2017 assets 2018 2017
Fixed assets, net 600,000 500,000 Inventory 70,000 50,000 Accounts
receivable, net 100,000 150,000 Cash 30,000 50,000 Total current
assets € 200,000 € 250,000 Total assets € 800,000 € 750,000 Equity
and liabilities 2018 2017 Share capital 300,000 200,000 Retained
earnings 80,000 100,000 Total equity € 380,000 € 300,000 Payable
bonds 200,000 250,000 Accounts payable 150,000 120,000 Income taxes
payable 70,000 80,000 Total current liabilities € 220,000 € 200,000
Total...
Presented here are the comparative balance sheets of Hames Inc.
at December 31, 2020 and 2019....
Presented here are the comparative balance sheets of Hames Inc.
at December 31, 2020 and 2019. Sales for the year ended December
31, 2020, totaled $660,000.
HAMES INC.
Balance Sheets
December 31, 2020 and 2019
2020
2019
Assets
Cash
$
25,000
$
19,000
Accounts receivable
78,000
72,000
Merchandise inventory
103,000
99,000
Total current assets
$
206,000
$
190,000
Land
50,000
40,000
Plant and equipment
125,000
110,000
Less: Accumulated depreciation
(65,000
)
(60,000
)
Total assets
$
316,000
$
280,000
Liabilities...
Consider the following financial statements for Industrial
Supply Company.
(Actual)
December 31,
Balance sheet
Year 1...
Consider the following financial statements for Industrial
Supply Company.
(Actual)
December 31,
Balance sheet
Year 1
Comments
Assets
Cash
$ 400,000
20% increase (assumption)
Accounts receivable
2,000,000
20% increase (assumption)
Inventories
4,400,000
20% increase (assumption)
Total current assets
$ 6,800,000
Fixed assets, net
$ 1,200,000
20% increase (assumption)
Total assets (A)
$ 8,000,000
Liabilities and Equity
Accounts payable (CL)
$ 1,200,000
20% increase (assumption)
Notes payable
1,500,000
Total current liabilities
$ 2,700,000
Long-term debt
500,000
No change (assumption)
Stockholders’ equity
4,800,000
Total liabilities and equity
$ 8,000,000...
The following information comes from the balance sheets and
income statements of Crosby Co.:
As of...
The following information comes from the balance sheets and
income statements of Crosby Co.:
As of or for the Year ended December 31
Current Year
Prior Year
Cash
$
14,000
$
14,000
Accounts receivable
21,000
26,000
Inventory
36,000
35,000
Property and equipment
132,000
129,000
Current liabilities
32,000
38,000
Long-term liabilities
73,000
70,000
Stockholders’ equity
98,000
96,000
Net sales revenues
400,000
335,000
Cost of goods sold
250,000
250,000
Operating expenses
100,000
95,000
Interest expense
10,200
14,000
Income tax expense
11,000
12,000...
Assume that the following balance sheets are stated at book
value.
Meat Co.
Current assets
$...
Assume that the following balance sheets are stated at book
value.
Meat Co.
Current assets
$
12,600
Current
liabilities
$
5,600
Net fixed
assets
36,900
Long-term debt
10,100
Equity
33,800
Total
$
49,500
Total
$
49,500
Loaf, Inc.
Current assets
$
3,700
Current
liabilities
$
1,600
Net fixed
assets
7,600
Long-term debt
2,200
Equity
7,500
Total
$
11,300
Total
$
11,300
Suppose the fair market value of Loaf’s fixed assets is $11,100
versus the $7,600 book value shown. Meat pays...
Assume that the following balance sheets are stated at book
value.
Meat Co.
Current assets
$...
Assume that the following balance sheets are stated at book
value.
Meat Co.
Current assets
$
12,600
Current
liabilities
$
5,600
Net fixed
assets
36,900
Long-term debt
10,100
Equity
33,800
Total
$
49,500
Total
$
49,500
Loaf, Inc.
Current assets
$
3,700
Current
liabilities
$
1,600
Net fixed
assets
7,600
Long-term debt
2,200
Equity
7,500
Total
$
11,300
Total
$
11,300
Suppose the fair market value of Loaf’s fixed assets is $11,100
versus the $7,600 book value shown. Meat pays...