PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firms’s balance sheets which follow: 2011 2012Cash $2,500$3,900Accounts receivable, net 35,00040,000Inventory 85,000122,000Other current assets 3,4004,110Total current assets 125,900170,010Property, plant & equipment, net 180,000230,000Other assets 15,00026,000Total assets $320,900$426,010RequiredPrepare a common-size analysis of the assets section of the firms balance sheet for 2011 and 2012.Round all percentage answers to one decimal place

Name: PQR is the accounting intern for, a firm that has many small clients t
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Description: PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firms’s balance sheets which follow: 2011 2012Cash

Common size analysis of financial statement analyse every component as a percentage of total. Like…

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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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PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firms’s balance sheets which follow:

	2011	2012
Cash	$2,500	$3,900
Accounts receivable, net	35,000	40,000
Inventory	85,000	122,000
Other current assets	3,400	4,110
Total current assets	125,900	170,010
Property, plant & equipment, net	180,000	230,000
Other assets	15,000	26,000
Total assets	$320,900	$426,010

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Prepare a common-size analysis of the assets section of the firms balance sheet for 2011 and 2012.Round all percentage answers to one decimal place

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