Homework Help is Here – Start Your Trial Now!
Business
Accounting
Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cashequivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15,043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814,647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622.939 496.106 Other assets 70.260 64,716 Total assets $2.725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69.613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129.275 102.203 Total current labilities 279,942 245,710 Deferred liabilities 284,267 240,975 Other liabilities 32.883 28.263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity $2.725.066 $2,527,317 Prepare a common-size balance sheet for each fiscal year. (Round percentages to 1 decimal ndicated by a negative sign preceding the number eg 45 or parentheses eg (45))

Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cashequivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15,043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814,647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622.939 496.106 Other assets 70.260 64,716 Total assets $2.725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69.613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129.275 102.203 Total current labilities 279,942 245,710 Deferred liabilities 284,267 240,975 Other liabilities 32.883 28.263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity $2.725.066 $2,527,317 Prepare a common-size balance sheet for each fiscal year. (Round percentages to 1 decimal ndicated by a negative sign preceding the number eg 45 or parentheses eg (45))

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity $2,725,066 $2,527,317 Prepare a common-size balance sheet for each fiscal year. (Round percentages to 1 decimal place, indicated by a negative sign preceding the number eg. -45 or parentheses eg. (45))
Transcribed Image Text:Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity $2,725,066 $2,527,317 Prepare a common-size balance sheet for each fiscal year. (Round percentages to 1 decimal place, indicated by a negative sign preceding the number eg. -45 or parentheses eg. (45))
Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses and other current assets Income tax receivable Investments Total current assets Property, plant, & equipment, net Long-term investments Other assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued payroll and benefits Accrued liabilities Total current liabilities Deferred liabilities Other liabilities Total liabilities Shareholders' equity: Common stock Additional paid-in capital Retained earnings Total shareholders' equity Total liabilities and shareholders' equity
Transcribed Image Text:Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses and other current assets Income tax receivable Investments Total current assets Property, plant, & equipment, net Long-term investments Other assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued payroll and benefits Accrued liabilities Total current liabilities Deferred liabilities Other liabilities Total liabilities Shareholders' equity: Common stock Additional paid-in capital Retained earnings Total shareholders' equity Total liabilities and shareholders' equity
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Income Taxes
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS