. PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firm’s balance sheets which follow: 20112012Cash $2,500$3,900Accounts receivable, net 35,00040,000Inventory 85,000122,000Other current assets 3,4004,110Total current assets 125,900170,010Property , plan &equipment , net 180,000230,000Other assets 15,00026,000Total assets $320,900$426,010 RequiredPrepare a common-size analysis of the assets section of the firm’s balance sheet for 2011 and 2012.Round all percentage answers to one decimal place

Name: . PQR is the accounting intern for, a firm that has many small clients
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Description: . PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firm’s balance sheets which follow: 20112012Cash $2,500$3,900Ac

Under a common-size analysis, the values are expressed as a percentage of total assets in the case…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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. PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firm’s balance sheets which follow:

	2011	2012
Cash	$2,500	$3,900
Accounts receivable, net	35,000	40,000
Inventory	85,000	122,000
Other current assets	3,400	4,110
Total current assets	125,900	170,010
Property , plan &equipment , net	180,000	230,000
Other assets	15,000	26,000
Total assets	$320,900	$426,010

Required

Prepare a common-size analysis of the assets section of the firm’s balance sheet for 2011 and 2012.Round all percentage answers to one decimal place

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