Dana Point Company Balance Sheet % Change Yr 2 Balance Sheet Common Size Yr 2 Yr 1 Balance Sheet Cash $7,000 $30,000 AR $67,500 $60,000 Inventory $49,000 $22,500 PPE $6,000 $4,500 Total Current Assets $129,500 $117,000 Building $187,500 $190,000 Total Assets $317,000 $307,000 Yr 2 Yr 1 Accounts Payable $65,500 $63,000 Wages Payable $37,000 $47,500 Total Current Liabilities $102,500 $110,500 Bank Loan Payable $83,000 $85,000 Total Liabilities $185,500 $195,500 Common Stock $75,000 $75,000 Retained Earnings $56,500 $36,500 Total Liab and SE $317,000 $307,000
Dana Point Company Balance Sheet % Change Yr 2 Balance Sheet Common Size Yr 2 Yr 1 Balance Sheet Cash $7,000 $30,000 AR $67,500 $60,000 Inventory $49,000 $22,500 PPE $6,000 $4,500 Total Current Assets $129,500 $117,000 Building $187,500 $190,000 Total Assets $317,000 $307,000 Yr 2 Yr 1 Accounts Payable $65,500 $63,000 Wages Payable $37,000 $47,500 Total Current Liabilities $102,500 $110,500 Bank Loan Payable $83,000 $85,000 Total Liabilities $185,500 $195,500 Common Stock $75,000 $75,000 Retained Earnings $56,500 $36,500 Total Liab and SE $317,000 $307,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
| Dana Point Company |
||||
| % Change | Yr 2 Balance Sheet | Common Size Yr 2 | Yr 1 Balance Sheet | |
| Cash | $7,000 | $30,000 | ||
| $67,500 | $60,000 | |||
| Inventory | $49,000 | $22,500 | ||
| PPE | $6,000 | $4,500 | ||
| Total Current Assets | $129,500 | $117,000 | ||
| Building | $187,500 | $190,000 | ||
| Total Assets | $317,000 | $307,000 | ||
| Yr 2 | Yr 1 | |||
| Accounts Payable | $65,500 | $63,000 | ||
| Wages Payable | $37,000 | $47,500 | ||
| Total Current Liabilities | $102,500 | $110,500 | ||
| Bank Loan Payable | $83,000 | $85,000 | ||
| Total Liabilities | $185,500 | $195,500 | ||
| Common Stock | $75,000 | $75,000 | ||
| $56,500 | $36,500 | |||
| Total Liab and SE | $317,000 | $307,000 | ||
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