Homework Help is Here – Start Your Trial Now!
Business
Accounting
2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation. Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year Retained earnings Total liabilities and stockholders' equity $ $ $ $ 2024 155,400 $ 59,400 66,600 13,200 70,200 146,400 142,200 (53,400) 600,000 $ 39,600 $ 6,600 16,800 201,600 231,000 104,400 600,000 $ 2023 109,450 41,800 108,350 6,600 16,500 172,700 141,900 (30,800) 566,500 52,250 3,300 14,300 174,900 231,000 90,750 566,500 Increase (Decrease) Amount %

2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation. Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year Retained earnings Total liabilities and stockholders' equity $ $ $ $ 2024 155,400 $ 59,400 66,600 13,200 70,200 146,400 142,200 (53,400) 600,000 $ 39,600 $ 6,600 16,800 201,600 231,000 104,400 600,000 $ 2023 109,450 41,800 108,350 6,600 16,500 172,700 141,900 (30,800) 566,500 52,250 3,300 14,300 174,900 231,000 90,750 566,500 Increase (Decrease) Amount %

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

A 42.

Subject:- accounting 

2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year Retained earnings Total liabilities and stockholders' equity $ $ $ 2024 155,400 $ 59,400 66,600 13,200 70,200 146,400 142,200 (53,400) 600,000 $ 39,600 $ 6,600 16,800 201,600 231,000 104,400 600,000 $ 2023 109,450 41,800 108,350 6,600 16,500 172,700 141,900 (30,800) 566,500 52,250 3,300 14,300 174,900 231,000 90,750 566,500 Increase (Decrease) % Amount
Transcribed Image Text:2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year Retained earnings Total liabilities and stockholders' equity $ $ $ 2024 155,400 $ 59,400 66,600 13,200 70,200 146,400 142,200 (53,400) 600,000 $ 39,600 $ 6,600 16,800 201,600 231,000 104,400 600,000 $ 2023 109,450 41,800 108,350 6,600 16,500 172,700 141,900 (30,800) 566,500 52,250 3,300 14,300 174,900 231,000 90,750 566,500 Increase (Decrease) % Amount
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS