Prepaid advertising 53,000 44,250 Total current assets $4 102,250 2$ 88,000 Plant and equipment: Building (net) 2$ 119,500 $ 125,250 Land 87,500 87,500 Total plant and equipment 2$ 207,000 24 212,750 Total assets $4 309,250 24 300,750 Liabilities Current liabilities: Accounts payable 2$ 131,250 2$ 119,500 Salaries payable 21,750 17,500 Total current liabilities 153,000 24 137,000 Long-term liabilities: Mortgage note payable 98,250 86,500 Total liabilities $ 251,250 223,500 Owner's Equity J. Brown, capital 58,000 77,250 Total liabilities and owner's equity 24 309,250 24 300,750

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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->
ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%=D0&launchUrl%=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%2
Prepaid advertising
53,000
44,250
Total current assets
102,250 $
88,000
Plant and equipment:
Building (net)
119,500 $
125,250
Land
87,500
87,500
Total plant and equipment
207,000 $
212,750
Total assets
309,250
300,750
Liabilities
Current liabilities:
Accounts payable
131,250 $
119,500
Salaries payable
21,750
17,500
Total current liabilities
153,000 $
137,000
Long-term liabilities:
Mortgage note payable
98,250
86,500
Total liabilities
251,250
223,500
Owner's Equity
J. Brown, capital
58,000
77,250
Total liabilities and owner's equity
309,250
300,750
Σ
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Transcribed Image Text:-> ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%=D0&launchUrl%=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%2 Prepaid advertising 53,000 44,250 Total current assets 102,250 $ 88,000 Plant and equipment: Building (net) 119,500 $ 125,250 Land 87,500 87,500 Total plant and equipment 207,000 $ 212,750 Total assets 309,250 300,750 Liabilities Current liabilities: Accounts payable 131,250 $ 119,500 Salaries payable 21,750 17,500 Total current liabilities 153,000 $ 137,000 Long-term liabilities: Mortgage note payable 98,250 86,500 Total liabilities 251,250 223,500 Owner's Equity J. Brown, capital 58,000 77,250 Total liabilities and owner's equity 309,250 300,750 Σ %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24
Question 3- Chapter 16 Homew X
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal%252Fframeset.jsp%2
Complete a horizontal analysis for Brown Company. (Negative answers should be indicated by a minus sign. Leave no cells blank -
be certain to enter "O" wherever required. Round the "percent" answers to the nearest hundredth percent.)
BROWN COMPANY
Comparative Balance Sheet
December 31, 2020 and 2019
Increase (Decrease)
2020
2019
Amount
Percent
Assets
Current assets:
Cash
13,750
$4
9,000
Accounts receivable
17,250
13,000
Merchandise inventory
18,250
21,750
Prepaid advertising
53,000
44,250
Total current assets
102,250
88,000
Plant and equipment:
Building (net)
119,500
125,250
Land
87,500
87,500
Total plant and equipment
207,000
212,750
Total assets
309,250
300,750
Liabilities
Current liabilities:
Accounts navahle
131 250
119 500
acer
%24
%24
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%24
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%24
%24
%24
%24
Transcribed Image Text:Question 3- Chapter 16 Homew X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal%252Fframeset.jsp%2 Complete a horizontal analysis for Brown Company. (Negative answers should be indicated by a minus sign. Leave no cells blank - be certain to enter "O" wherever required. Round the "percent" answers to the nearest hundredth percent.) BROWN COMPANY Comparative Balance Sheet December 31, 2020 and 2019 Increase (Decrease) 2020 2019 Amount Percent Assets Current assets: Cash 13,750 $4 9,000 Accounts receivable 17,250 13,000 Merchandise inventory 18,250 21,750 Prepaid advertising 53,000 44,250 Total current assets 102,250 88,000 Plant and equipment: Building (net) 119,500 125,250 Land 87,500 87,500 Total plant and equipment 207,000 212,750 Total assets 309,250 300,750 Liabilities Current liabilities: Accounts navahle 131 250 119 500 acer %24 %24 %24 %24 %24 %24 %24 %24 %24 %24
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