Consider the balance sheet given below and perform Common Size Analysis for the entirebalance sheet.а.b.Write a detailed comment on the analysis performed and advice how the firm can improve further.BUSINESS CONSULTING COMPANYBALANCE SHEETAs at December 31, 2015AssetsCurrent assets:Cash85,550Accounts receivable4,700Prepaid building rentUnexpired insuranceSupplies1,5003.600250Total current assets95,600Non-current assets:9.000EquipmentAcc. dep. - Equipment3,6005,400Total assets101,000Liabilities & Stockholders' equityLiabilitiesNotes payableAccounts pay able5,0001,600Salaries payableIncome tax pay ableUnearned service revenue2.0003,0004,400Total liabilities16,000Stockholders' equity:Capital stockRetained earnings50,00035,000Total stockholders' equity85,000Total liabilities and stockholders' equity101,000

Common size balance sheet is prepared by analysing each item as a % of Total assets Total Assets =…

Consider the balance sheet given below and perform Common Size Analysis for the entire balance sheet. а. b. Write a detailed comment on the analysis performed and advice how the firm can improve further. BUSINESS CONSULTING COMPANY BALANCE SHEET As at December 31, 2015 Assets Current assets: Cash 85,550 Accounts receivable 4,700 Prepaid building rent Unexpired insurance Supplies 1,500 3,600 250 Total current assets 95,600 Non-current assets: Equipment Acc. dep. - Equipment 9,000 3,600 5,400 Total assets 101,000 Liabilities & Stockholders' equity Liabilities Notes payable Accounts payable Salaries payable Income tax pay able 5,000 1,600 2,000 3,000 Unearned service revenue 4,400 Total liabilities 16,000 Stockholders' equity: Capital stock Retained earnings 50,000 35,000 Total stockholders' equity 85,000 Total liabilities and stockholders' equity 101,000

Consider the balance sheet given below and perform Common Size Analysis for the entire balance sheet. а. b. Write a detailed comment on the analysis performed and advice how the firm can improve further. BUSINESS CONSULTING COMPANY BALANCE SHEET As at December 31, 2015 Assets Current assets: Cash 85,550 Accounts receivable 4,700 Prepaid building rent Unexpired insurance Supplies 1,500 3,600 250 Total current assets 95,600 Non-current assets: Equipment Acc. dep. - Equipment 9,000 3,600 5,400 Total assets 101,000 Liabilities & Stockholders' equity Liabilities Notes payable Accounts payable Salaries payable Income tax pay able 5,000 1,600 2,000 3,000 Unearned service revenue 4,400 Total liabilities 16,000 Stockholders' equity: Capital stock Retained earnings 50,000 35,000 Total stockholders' equity 85,000 Total liabilities and stockholders' equity 101,000

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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