vertical analysis.INSTRUCTIONS: Complete the condensed Statement of Financial Position and Incomestatement by indicating the correct percentages applying concepts in horizontal andYOUR FINAL REQUIREMENTS2 of 3STRUCTIONS: Complete the condensed Statement of Financial Position and Incomeng the cost of pontrol of cost. 1f operations, pr social use ofnd advice to aCANVASCanvas CompanyGEMENT ACStatement of Financial PositionDecember 31, Year 2 and Year 1ting in whied non-finatare provicknown as(Php in thousands)ourroktyearyearYear 2Year 1 HorizontalVerticaland Qualormationnd orecCurrent assets:Cash and marketable securitiesAnalysisAnalysisfet aspAccounts receivable, net... 130120 8.33%1807.2Inventory..1800%Prepaid expenses17055.55%.4.8180Total current assets ...202050050020.%Noncurrent assets:ressPlant & equipment, netns.2,0001,930 36.24Total assets ..lon2,5002,430 8!100%ledCurrent liabilities:Accounts payable..1301605.2Accrued liabilities3060 (50%)1.2Notes payable, short term1301305.2Total current liabilities.......... ...290350 1.71%Noncurrent liabilities:Bonds payable.310300 3.33712.4Total liabilities600650 Y24%Stockholders' equity:Preferred stock, P10 par, 10%.... 10010047.Common stock, P10 par1801807.2Additional paid-in capital--common stock 160160Retained earnings..1,4601,340 8.96%t8.4Total stockholders' equity... 1,9001,780 .74%76%Total liabilities & stockholders' equity. 2,5002,430 2 88100%Page 147 of 1614.88.

A statement of financial position can be defined as a statement that provides a summary of the…

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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