OUR FINAL REQUIREMENTS STRUCTIONS: Complete the condensed Statement of Financial Position and Income Statement by indicating the correct percentages applying concepts in horizontal and 2 of 3 ertical analysis. CANVAS Canvas Company Statement of Financial Position December 31, Year 2 and Year 1 (Php in thousands) Curnet year Year 2 Year 1 Horizontal Vertical Analysis Current assets: Cash and marketable securities Analysis Accounts receivable, net 130 120 8.33% Inventory 180 180 0% 170 180 55/. 6.8 Prepaid expenses Total current assets 20 20 500 500 20.% Noncurrent assets: Plant & equipment, net. 2,000 1,930 26.24 Total assets 2,500 2,430 18 3C 100% Current liabilities: Accounts payable 5.2 130 160 Accrued liabilities 30 60 (50%) 1.2 Notes payable, short term 130 130 Total current liabilities 1.717 .290 350 oncurrent liabilities: Bonds payable 3.337 12.4 310 300 Total liabilities 600 650 24% ckholders' equity: Preferred stock, P10 par, 10% 100 100 Common stock, P10 par 180 180 7. Additional paid-in capital--common stock 160 160 Retained earnings 1,460 1,340 8.96% Total stockholders' equity. .1,900 1,780 769 Total liahilities & stockholders' equity.2,500 2,430 2 68 10 1-1-1
OUR FINAL REQUIREMENTS STRUCTIONS: Complete the condensed Statement of Financial Position and Income Statement by indicating the correct percentages applying concepts in horizontal and 2 of 3 ertical analysis. CANVAS Canvas Company Statement of Financial Position December 31, Year 2 and Year 1 (Php in thousands) Curnet year Year 2 Year 1 Horizontal Vertical Analysis Current assets: Cash and marketable securities Analysis Accounts receivable, net 130 120 8.33% Inventory 180 180 0% 170 180 55/. 6.8 Prepaid expenses Total current assets 20 20 500 500 20.% Noncurrent assets: Plant & equipment, net. 2,000 1,930 26.24 Total assets 2,500 2,430 18 3C 100% Current liabilities: Accounts payable 5.2 130 160 Accrued liabilities 30 60 (50%) 1.2 Notes payable, short term 130 130 Total current liabilities 1.717 .290 350 oncurrent liabilities: Bonds payable 3.337 12.4 310 300 Total liabilities 600 650 24% ckholders' equity: Preferred stock, P10 par, 10% 100 100 Common stock, P10 par 180 180 7. Additional paid-in capital--common stock 160 160 Retained earnings 1,460 1,340 8.96% Total stockholders' equity. .1,900 1,780 769 Total liahilities & stockholders' equity.2,500 2,430 2 68 10 1-1-1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education