Current assets: Cash Assets Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment Total assets LOGIC COMPANY Comparative Balance Sheet December 31, 2019 and 2020 2020 $ $ $ $ $ Amount 12,700 17,200 9,200 24,700 63,800 15,200 14,200 29,400 93,200 Percent $ 9,700 13,200 14,700 10,700 $ 48,300 $ $ Amount $ 2019 11,900 9,700 21,600 69,900 Percent

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Current assets:
Cash
Accounts receivable
Merchandise inventory
Prepaid expenses
Total current assets
Plant and equipment:
Building (net)
Land
T
Total assets
Total plant and equipment
Assets
Total assets
Liabilities
Current liabilities:
Accounts payable
Salaries payable
Total current liabilities
Long-term liabilities:
Mortgage note payable
despaces
Stockholders' Equity
Common stock
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$
$
$
$
Show Transcribed Text
S
$
LOGIC COMPANY
Comparative Balance Sheet
December 31, 2019 and 2020
2020
$
$
$
$
$
$
Amount
www.
93,200
13,700
7,700
21,400
22,700
44,100
12,700
17,200
9,200
21,700
27,400
49,100
93,200
24,700
63.800
15,200
14,200
29,400
93,200
Percent.
$
$
$
$
S
$
$
$
$
$
$
$
----
69,900
7,700
5,700
13,400
21,200
34,600
21,700
13,600
35,300
69,900
Amount
2019
9,700
13,200
14,700
10,700
48.300
11,900
9,700
21,600
69,900
Percent
Transcribed Image Text:Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land T Total assets Total plant and equipment Assets Total assets Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable despaces Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ $ $ $ Show Transcribed Text S $ LOGIC COMPANY Comparative Balance Sheet December 31, 2019 and 2020 2020 $ $ $ $ $ $ Amount www. 93,200 13,700 7,700 21,400 22,700 44,100 12,700 17,200 9,200 21,700 27,400 49,100 93,200 24,700 63.800 15,200 14,200 29,400 93,200 Percent. $ $ $ $ S $ $ $ $ $ $ $ ---- 69,900 7,700 5,700 13,400 21,200 34,600 21,700 13,600 35,300 69,900 Amount 2019 9,700 13,200 14,700 10,700 48.300 11,900 9,700 21,600 69,900 Percent
Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except
decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.)
Transcribed Image Text:Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.)
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