Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders’ equity item as a percent of the total liabilities and stockholders’ equity. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 1 Current Year Current Year Previous Year Previous Year 2 Amount Percent Amount Percent 3 Current assets $1,998,000.00 $1,518,000.00 4 Property, plant, and equipment 4,070,000.00 4,623,000.00 5 Intangible assets 1,332,000.00 759,000.00 6 Total assets $7,400,000.00 $6,900,000.00 7 Current liabilities $1,332,000.00 $1,035,000.00 8 Long-term liabilities 1,850,000.00 2,208,000.00 9 Common stock 740,000.00 828,000.00 10 Retained earnings 3,478,000.00 2,829,000.00 11 Total liabilities and stockholders’ equity $7,400,000.00 $6,900,000.00
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders’ equity item as a percent of the total liabilities and stockholders’ equity. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 1 Current Year Current Year Previous Year Previous Year 2 Amount Percent Amount Percent 3 Current assets $1,998,000.00 $1,518,000.00 4 Property, plant, and equipment 4,070,000.00 4,623,000.00 5 Intangible assets 1,332,000.00 759,000.00 6 Total assets $7,400,000.00 $6,900,000.00 7 Current liabilities $1,332,000.00 $1,035,000.00 8 Long-term liabilities 1,850,000.00 2,208,000.00 9 Common stock 740,000.00 828,000.00 10 Retained earnings 3,478,000.00 2,829,000.00 11 Total liabilities and stockholders’ equity $7,400,000.00 $6,900,000.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders’ equity item as a percent of the total liabilities and stockholders’ equity.
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Alvaraz Company
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Comparative Balance Sheet
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For the Years Ended December 31
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1
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Current Year
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Current Year
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Previous Year
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Previous Year
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2
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Amount
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Percent
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Amount
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Percent
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3
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Current assets
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$1,998,000.00
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$1,518,000.00
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4
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Property, plant, and equipment
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4,070,000.00
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4,623,000.00
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5
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Intangible assets
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1,332,000.00
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759,000.00
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6
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Total assets
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$7,400,000.00
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$6,900,000.00
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7
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Current liabilities
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$1,332,000.00
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$1,035,000.00
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8
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Long-term liabilities
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1,850,000.00
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2,208,000.00
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9
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Common stock
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740,000.00
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828,000.00
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10
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3,478,000.00
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2,829,000.00
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11
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Total liabilities and stockholders’ equity
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$7,400,000.00
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$6,900,000.00
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