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Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets

Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets

FINANCIAL ACCOUNTING
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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Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash $ 40,010 % $ 51,181 % Accounts receivable 60,281 80,639 % % % Inventory 128,441 194,689 Total $ 228,732 % $ 326,509 Fixed assets % % Net plant and equipment $ 657,747 % $ 589,478 Total assets $ 886,479 % $ 915,987 Liabilities and Owners' Equity Current liabilities Accounts payable $ 191,922 % $ 199,611 % Notes payable 87,020 % 138,588 % Total $ 278,942 $ 338,199 Long-term debt Owners' equity $ 241,000 % $ 177,750 % % $ % % $ % % % Common stock and paid-in surplus $ 214,000 214,000 Accumulated retained earnings 152,537 186,038 Total $ 366,537 400,038 Total liabilities and owners' equity 886,479 % $ 915,987
Transcribed Image Text:Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash $ 40,010 % $ 51,181 % Accounts receivable 60,281 80,639 % % % Inventory 128,441 194,689 Total $ 228,732 % $ 326,509 Fixed assets % % Net plant and equipment $ 657,747 % $ 589,478 Total assets $ 886,479 % $ 915,987 Liabilities and Owners' Equity Current liabilities Accounts payable $ 191,922 % $ 199,611 % Notes payable 87,020 % 138,588 % Total $ 278,942 $ 338,199 Long-term debt Owners' equity $ 241,000 % $ 177,750 % % $ % % $ % % % Common stock and paid-in surplus $ 214,000 214,000 Accumulated retained earnings 152,537 186,038 Total $ 366,537 400,038 Total liabilities and owners' equity 886,479 % $ 915,987
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