Directions: Create a % Change and Yr. 2 Common Size Balance Sheet for Dana Point. Use excel to do the calculations for you and don't round your answers. 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
Directions: Create a % Change and Yr. 2 Common Size Balance Sheet for Dana Point. Use excel to do the calculations for you and don't round your answers. 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
| Directions: Create a % Change and Yr. 2 Common Size |
||||||
| Dana Point Company Balance Sheet | ||||||
| % 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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