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Lannister Salon Statement of Financial Position December 31, 2022 to 2023 2022 Assets Current Assets Cash and Cash Equivalents 2023 (-) (+) Peso-Percent 587,993.00 752,732.00 164,739.00 28.02 Investment and Trading Securities 94,000.00 130,650.00 36,650.00 38.99 Trade and Other Receivables 60,100.00 80,000.00 19,900.00 33.11 Inventories Prepaid Expenses 267,000.00 400,000.00 133,000.00 49.81 125,556.00 135,000.00 9,444.00 7.52 Total Current Assets 1,134,649.00 1,498,382.00 363,733.00 32.06 Non-Current Assets Property, Plant and Equipment 487,000.00 505,000.00 18,000.00 3.70 Total Assets 1,621,649.00 2,003,382.00 381,733.00 23.54 Liabilities and Owner's Equity Current Liabilities Trade and Other Payables 369,900.00 500,000.00 130,100.00 35.17 Non-Current Liabilities Mortgage Payable 115,000.00 200,000.00 85,000.00 73.91 Loan Payable (3 years) 114,000.00 200,000.00 86,000.00 75.44 Total Non-Current Liabilities Total Liabilities 229,000.00 598,900.00 900,000.00 400,000.00 171,000.00 74.67 301,100.00 50.28 Owner's Equity Capital 1,022,749.00 1,103,382.00 80,633.00 7.88 Total Liabilities and Owner's Equity 1,621,649.00 2,003,382.00 381,733.00 23.54

Lannister Salon Statement of Financial Position December 31, 2022 to 2023 2022 Assets Current Assets Cash and Cash Equivalents 2023 (-) (+) Peso-Percent 587,993.00 752,732.00 164,739.00 28.02 Investment and Trading Securities 94,000.00 130,650.00 36,650.00 38.99 Trade and Other Receivables 60,100.00 80,000.00 19,900.00 33.11 Inventories Prepaid Expenses 267,000.00 400,000.00 133,000.00 49.81 125,556.00 135,000.00 9,444.00 7.52 Total Current Assets 1,134,649.00 1,498,382.00 363,733.00 32.06 Non-Current Assets Property, Plant and Equipment 487,000.00 505,000.00 18,000.00 3.70 Total Assets 1,621,649.00 2,003,382.00 381,733.00 23.54 Liabilities and Owner's Equity Current Liabilities Trade and Other Payables 369,900.00 500,000.00 130,100.00 35.17 Non-Current Liabilities Mortgage Payable 115,000.00 200,000.00 85,000.00 73.91 Loan Payable (3 years) 114,000.00 200,000.00 86,000.00 75.44 Total Non-Current Liabilities Total Liabilities 229,000.00 598,900.00 900,000.00 400,000.00 171,000.00 74.67 301,100.00 50.28 Owner's Equity Capital 1,022,749.00 1,103,382.00 80,633.00 7.88 Total Liabilities and Owner's Equity 1,621,649.00 2,003,382.00 381,733.00 23.54

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.2MBA
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The attached pic is Lannister Salon's Comprehensive Income from 2022-2023. 

Here are the following things that I request you to do:

Step 1: Recheck my computations and classification of accounts

Step 2: Create a Horizontal Analysis for Liquidity (involves current assets and current liabilities accounts). Create a conclusion and at least 3-4 recommendations.

Step 3: Create a Horizontal Analysis for Stability (involves non-current assets, non-current liabilities, and owner's equity accounts). Create a conclusion and at least 3-4 recommendations.

Make the explanation detailed, and do not provide AI-generated output. Thank you!

 

Lannister Salon Statement of Financial Position December 31, 2022 to 2023 2022 Assets Current Assets Cash and Cash Equivalents 2023 (-) (+) Peso-Percent 587,993.00 752,732.00 164,739.00 28.02 Investment and Trading Securities 94,000.00 130,650.00 36,650.00 38.99 Trade and Other Receivables 60,100.00 80,000.00 19,900.00 33.11 Inventories Prepaid Expenses 267,000.00 400,000.00 133,000.00 49.81 125,556.00 135,000.00 9,444.00 7.52 Total Current Assets 1,134,649.00 1,498,382.00 363,733.00 32.06 Non-Current Assets Property, Plant and Equipment 487,000.00 505,000.00 18,000.00 3.70 Total Assets 1,621,649.00 2,003,382.00 381,733.00 23.54 Liabilities and Owner's Equity Current Liabilities Trade and Other Payables 369,900.00 500,000.00 130,100.00 35.17 Non-Current Liabilities Mortgage Payable 115,000.00 200,000.00 85,000.00 73.91 Loan Payable (3 years) 114,000.00 200,000.00 86,000.00 75.44 Total Non-Current Liabilities Total Liabilities 229,000.00 598,900.00 900,000.00 400,000.00 171,000.00 74.67 301,100.00 50.28 Owner's Equity Capital 1,022,749.00 1,103,382.00 80,633.00 7.88 Total Liabilities and Owner's Equity 1,621,649.00 2,003,382.00 381,733.00 23.54
Transcribed Image Text:Lannister Salon Statement of Financial Position December 31, 2022 to 2023 2022 Assets Current Assets Cash and Cash Equivalents 2023 (-) (+) Peso-Percent 587,993.00 752,732.00 164,739.00 28.02 Investment and Trading Securities 94,000.00 130,650.00 36,650.00 38.99 Trade and Other Receivables 60,100.00 80,000.00 19,900.00 33.11 Inventories Prepaid Expenses 267,000.00 400,000.00 133,000.00 49.81 125,556.00 135,000.00 9,444.00 7.52 Total Current Assets 1,134,649.00 1,498,382.00 363,733.00 32.06 Non-Current Assets Property, Plant and Equipment 487,000.00 505,000.00 18,000.00 3.70 Total Assets 1,621,649.00 2,003,382.00 381,733.00 23.54 Liabilities and Owner's Equity Current Liabilities Trade and Other Payables 369,900.00 500,000.00 130,100.00 35.17 Non-Current Liabilities Mortgage Payable 115,000.00 200,000.00 85,000.00 73.91 Loan Payable (3 years) 114,000.00 200,000.00 86,000.00 75.44 Total Non-Current Liabilities Total Liabilities 229,000.00 598,900.00 900,000.00 400,000.00 171,000.00 74.67 301,100.00 50.28 Owner's Equity Capital 1,022,749.00 1,103,382.00 80,633.00 7.88 Total Liabilities and Owner's Equity 1,621,649.00 2,003,382.00 381,733.00 23.54
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