CashAccounts receivableEquipment, netLandTotal assetsCashAccounts receivableEquipment, netCurrent Year$ 11,50061,50059,00099,000$ 231,000LandTotal assetsQS 13-6 (Algo) Vertical analysis LO P2Express the items in common-size percents.Note: Round your percentage answers to one decimal place.Current Year%Prior Year$ 14,20027,088%52,00073,500$ 166,700Prior Year%

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Description: CashAccounts receivableEquipment, netLandTotal assetsCashAccounts receivableEquipment, netCurrent Year$ 11,50061,50059,00099,000$ 231,000LandTotal assetsQS 13-6 (Algo) Vertical analysis LO P2Express the items in common-size percents.Note: Round your

The Statement of Financial Position -The statement of financial position is the position of the…

Business

Accounting

Cash Accounts receivable Equipment, net Land Total assets Cash Accounts receivable Equipment, net $ 11,500 61,500 59,000 99,000 $ 231,000 QS 13-6 (Algo) Vertical analysis LO P2 Express the items in common-size percents. Note: Round your percentage answers to one decimal place. Land Total assets Current Year $ 14,200 27,000 52,000 73,500 $ 166,700 % % % Prior Year % % %

Cash Accounts receivable Equipment, net Land Total assets Cash Accounts receivable Equipment, net $ 11,500 61,500 59,000 99,000 $ 231,000 QS 13-6 (Algo) Vertical analysis LO P2 Express the items in common-size percents. Note: Round your percentage answers to one decimal place. Land Total assets Current Year $ 14,200 27,000 52,000 73,500 $ 166,700 % % % Prior Year % % %

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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A condensed balance sheet for Simultech Corporation and a partially completed vertical analysis are presented below. Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Balance Sheet (summarized) January 31 (in millions of U.S. dollars) Cash $433 29 % Current Liabilities $409 27 % Accounts Receivable 294 19 Long-term Liabilities 495 33 Inventory 206 14 Total Liabilities 904 Other Current Assets 109 Common Stock 118 Property and Equipment 27 2 Retained Earnings 492 32 Other Assets 445 29 Total Stockholders’ Equity 610 Total Assets $1,514 100 % Total Liabilities & Stockholders’ Equity $1,514 100 % 2A. What percentage of Simultech’s total assets relate to inventory? (Round your answer to the nearest whole percent.) 2B. What percentage of Simultech’s total assets relate to property…
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