Comparative Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands): Current Year Previous Year Cash and Cash Equivalents $113,756 $12,848 Accounts Receivables 100,593 68,342 Merchandise Inventories 1,212,105 449,983 Other Current Assets 26,303 17,692 Total Current Assets 1,452,757 548,865 Property and Equipment (net) 328,175 227,596 Other Assets 28,804 13,993 Total Assets $1,809,736 $790,454 Current Liabilities $763,853 $334,809 Long-Term liabilities 454,141 127,537 Total Liabilities 1,217,994 462,346 Common Stock 3,965 2,068 Additional Paid-in-Capital 425,768 246,871 Retained Earnings 162,009 79,169 Total Stockholders' Equity 591,742 328,108 Total Liabilities and Stockholders' Equity $1,809,736 $790,454 Prepare a comparative balance sheet, showing increases in dollars and percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). GREAT BUY COMPANY, INC. Comparative Balance Sheets (Thousands of Dollars) Current Year Previous Year Increase (Decrease) Percent Change Assets Current Assets Cash and Cash Equivalents $113,756 $12,848 Answer Answer Accounts Receivables 100,593 68,342 Answer Answer Merchandise Inventories 1,212,105 449,983 Answer Answer Other Current Assets 26,303 17,692 Answer Answer Total Current Assets 1,452,757 548,865 Answer Answer Property and Equipment (net) 328,175 227,596 Answer Answer Other Assets 28,804 13,993 Answer Answer Total Assets $1,809,736 $790,454 Answer Answer Liabilities Current Liabilities $763,853 $334,809 Answer Answer Long-Term liabilities 454,141 127,537 Answer Answer Total Liabilities 1,217,994 462,346 Answer Answer Stockholders' Equity Common Stock 3,965 2,068 Answer Answer Additional Paid-in-Capital 425,768 246,871 Answer Answer Retained Earnings 162,009 79,169 Answer Answer Total Stockholders' Equity 591,742 328,108 Answer Answer Total Liabilities and Stockholders' Equity $1,809,736 $790,454 Answer Answer

Comparative Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands): Current Year Previous Year Cash and Cash Equivalents $113,756 $12,848 Accounts Receivables 100,593 68,342 Merchandise Inventories 1,212,105 449,983 Other Current Assets 26,303 17,692 Total Current Assets 1,452,757 548,865 Property and Equipment (net) 328,175 227,596 Other Assets 28,804 13,993 Total Assets $1,809,736 $790,454 Current Liabilities $763,853 $334,809 Long-Term liabilities 454,141 127,537 Total Liabilities 1,217,994 462,346 Common Stock 3,965 2,068 Additional Paid-in-Capital 425,768 246,871 Retained Earnings 162,009 79,169 Total Stockholders' Equity 591,742 328,108 Total Liabilities and Stockholders' Equity $1,809,736 $790,454 Prepare a comparative balance sheet, showing increases in dollars and percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). GREAT BUY COMPANY, INC. Comparative Balance Sheets (Thousands of Dollars) Current Year Previous Year Increase (Decrease) Percent Change Assets Current Assets Cash and Cash Equivalents $113,756 $12,848 Answer Answer Accounts Receivables 100,593 68,342 Answer Answer Merchandise Inventories 1,212,105 449,983 Answer Answer Other Current Assets 26,303 17,692 Answer Answer Total Current Assets 1,452,757 548,865 Answer Answer Property and Equipment (net) 328,175 227,596 Answer Answer Other Assets 28,804 13,993 Answer Answer Total Assets $1,809,736 $790,454 Answer Answer Liabilities Current Liabilities $763,853 $334,809 Answer Answer Long-Term liabilities 454,141 127,537 Answer Answer Total Liabilities 1,217,994 462,346 Answer Answer Stockholders' Equity Common Stock 3,965 2,068 Answer Answer Additional Paid-in-Capital 425,768 246,871 Answer Answer Retained Earnings 162,009 79,169 Answer Answer Total Stockholders' Equity 591,742 328,108 Answer Answer Total Liabilities and Stockholders' Equity $1,809,736 $790,454 Answer Answer

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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Comparative Balance Sheets
Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands):

	Current Year	Previous Year
Cash and Cash Equivalents	$113,756	$12,848
Accounts Receivables	100,593	68,342
Merchandise Inventories	1,212,105	449,983
Other Current Assets	26,303	17,692
Total Current Assets	1,452,757	548,865
Property and Equipment (net)	328,175	227,596
Other Assets	28,804	13,993
Total Assets	$1,809,736	$790,454
Current Liabilities	$763,853	$334,809
Long-Term liabilities	454,141	127,537
Total Liabilities	1,217,994	462,346
Common Stock	3,965	2,068
Additional Paid-in-Capital	425,768	246,871
Retained Earnings	162,009	79,169
Total Stockholders' Equity	591,742	328,108
Total Liabilities and Stockholders' Equity	$1,809,736	$790,454

Prepare a comparative balance sheet, showing increases in dollars and percentages.

Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%).

GREAT BUY COMPANY, INC. Comparative Balance Sheets (Thousands of Dollars)
	Current Year	Previous Year	Increase (Decrease)	Percent Change
Assets
Current Assets
Cash and Cash Equivalents	$113,756	$12,848	Answer	Answer
Accounts Receivables	100,593	68,342	Answer	Answer
Merchandise Inventories	1,212,105	449,983	Answer	Answer
Other Current Assets	26,303	17,692	Answer	Answer
Total Current Assets	1,452,757	548,865	Answer	Answer
Property and Equipment (net)	328,175	227,596	Answer	Answer
Other Assets	28,804	13,993	Answer	Answer
Total Assets	$1,809,736	$790,454	Answer	Answer
Liabilities
Current Liabilities	$763,853	$334,809	Answer	Answer
Long-Term liabilities	454,141	127,537	Answer	Answer
Total Liabilities	1,217,994	462,346	Answer	Answer
Stockholders' Equity
Common Stock	3,965	2,068	Answer	Answer
Additional Paid-in-Capital	425,768	246,871	Answer	Answer
Retained Earnings	162,009	79,169	Answer	Answer
Total Stockholders' Equity	591,742	328,108	Answer	Answer
Total Liabilities and Stockholders' Equity	$1,809,736	$790,454	Answer	Answer

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