Presented below is the condensed comparative balance sheet ofBLL Company for the year ended December 31, 2014 and 2015.Prepare a horizontal analysis and make an interpretation of youranalysisBLL CompanyCondensed Comparative Balance SheetAs of December 31. 2014 and 2015201420,000Assets2015Cash10,000Accounts receivable (net)100,000120,000Inventories100,000150,000Property,plant and equipmentTotal Assets100,000320,000180,000460,000Liabilities and Owner's EquityAccounts payable20,000100,000Notes payable80,00080,000Mortgage payableButch L Leon, Capital20,00040,000240,000200,000320,000Total Liabilities and Owner's Equlty460,000

Horizontal analysis is used to analyze the change in a particular line item of financial statements…

Answered: 1. Presented below is the condensed…

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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The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANYComparative Balance SheetsDecember 31, 2016 and 2015($ in 000s) 2016 2015 Assets Cash $ 125 $ 110 Accounts receivable 151 155 Short-term investment 56 20 Inventory 155 150 Land 114 140 Buildings and equipment 740 560 Less: Accumulated depreciation (211) (155) $ 1,130 $ 980 Liabilities Accounts payable $ 46 $ 51 Salaries payable 4 7 Interest payable 5 4 Income tax payable 9 13 Notes payable 0 36 Bonds payable 332 260 Shareholders' Equity Common stock 435 360 Paid-in capital—excess of par 200 180 Retained earnings 99…
Condensed financial data of Larkspur, Inc. follow. Larkspur, Inc.Comparative Balance SheetsDecember 31 Assets 2022 2021 Cash $105,900 $47,000 Accounts receivable 92,700 33,100 Inventory 112,800 101,000 Prepaid expenses 29,200 25,500 Long-term investments 139,400 114,200 Plant assets 274,500 241,400 Accumulated depreciation (46,800 ) (52,400 ) Total $707,700 $509,800 Liabilities and Stockholders’ Equity Accounts payable $111,900 $67,800 Accrued expenses payable 16,000 17,300 Bonds payable 117,200 149,500 Common stock 219,100 175,300 Retained earnings 243,500 99,900 Total $707,700 $509,800 Larkspur, Inc.Income StatementFor the Year Ended December 31, 2022 Sales revenue $392,600 Less:…
Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2024 2023 Assets Cash $ 450 $ 160 Accounts receivable 490 260 Inventory 640 385 Land 650 590 Building 800 800 Less: Accumulated depreciation (250) (230) Equipment 2,850 2,570 Less: Accumulated depreciation (472) (440) Patent 1,700 1,950 $ 6,858 $ 6,045 Liabilities Accounts payable $ 740 $ 440 Accrued liabilities 220 155 Lease liability—land 130 0 Shareholders' Equity Common stock 2,600 2,500 Paid-in capital—excess of par 600 515 Retained earnings 2,568 2,435 $ 6,858 $ 6,045 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2024 ($ in thousands) Revenues Sales revenue $…
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Samuel Corp. has provided the following information for the year ended December 31, 2018. Samuel Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Inc/(dec) Current Assets: Cash $33,000 $13,000 $20,000 Accounts Receiveable 29,000 36,000 (7,000) Inventory 56,000 29,000 27,000 Plant Assets, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000) Accrued Liabilities 7,000 3,000 4,000 Long-Term Notes Payable 70,000 79,000 (9,000) Total Liabilities 86,000 95,000 (9,000) Common Stock $55,000 $3,000 $52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000) (6,000) (6,000) Total Stockholders' Equity $158,000 $75,000 $83,000 Total Liabilities and Stockholders Equity $244,000 $170,000 $74,000 Samuel Corp Income…
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Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).) WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31
A comparative balance sheet for Stokely, Inc., on December 31, 2022 and 2021, follows. Additional information about the firm’s financial activities during 2022 is also given below. STOKELY, INC.Comparative Balance SheetDecember 31, 2022 and 2021 Assets 2022 2021 Cash $ 149,900 $ 73,500 Accounts Receivable (Net) 130,600 80,600 Merchandise Inventory 47,600 44,000 Property, Plant, and Equipment 250,000 200,000 Less: Accumulated Depreciation (40,000 ) (20,000 ) Total Assets $ 538,100 $ 378,100 Liabilities and Stockholders' Equity Liabilities Accounts Payable 57,000 77,000 Bonds Payable 160,000 110,000 Total Liabilities $ 217,000 $ 187,000 Stockholders' Equity Common Stock ($1 par, 100,000 shares authorized, 60,000 shares issued in 2021 and 30,000 shares issued in 2022) 90,000 60,000 Retained Earnings…
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