->ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%=D0&launchUrl%=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%2Prepaid advertising53,00044,250Total current assets102,250 $88,000Plant and equipment:Building (net)119,500 $125,250Land87,50087,500Total plant and equipment207,000 $212,750Total assets309,250300,750LiabilitiesCurrent liabilities:Accounts payable131,250 $119,500Salaries payable21,75017,500Total current liabilities153,000 $137,000Long-term liabilities:Mortgage note payable98,25086,500Total liabilities251,250223,500Owner's EquityJ. Brown, capital58,00077,250Total liabilities and owner's equity309,250300,750Σ%24%24%24%24%24%24%24%24%24%24%24%24%24%24%24%24 Question 3- Chapter 16 Homew Xezto.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal%252Fframeset.jsp%2Complete 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 COMPANYComparative Balance SheetDecember 31, 2020 and 2019Increase (Decrease)20202019AmountPercentAssetsCurrent assets:Cash13,750$49,000Accounts receivable17,25013,000Merchandise inventory18,25021,750Prepaid advertising53,00044,250Total current assets102,25088,000Plant and equipment:Building (net)119,500125,250Land87,50087,500Total plant and equipment207,000212,750Total assets309,250300,750LiabilitiesCurrent liabilities:Accounts navahle131 250119 500acer%24%24%24%24%24%24%24%24%24%24

Comparative balance sheet means where increase or decrease of every item is calculated and…

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

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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