Required InfomationProblem 12-3A Perform vertical and hortzontal analysis (LO12-1, 12-2)[The following information applies to the questions displayed below.]The balance sheets for Sports Unlimited for 2021 and 2020 are provided below.Problem 12-3A Part 22 Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 os the base year. (Negative amounts andDecreases should be Indicated by a minus sign. Round your percentage answers to 1 decimal place.)SPORTS UNLIMITEDBalance SheetaFor the yeara ended December 31YearIncrease (Decrease)Amount20212020AsseteCurrent assels:Cash103,50070,400Accounits receivable46,80032,000Inventory44,55071,200Prepaid rent7,2003,600Lang term assets.Investment in bonds54,900Land117,450141,600Equipment106,200102,000Less Accumulated depreciation(30.600)450,000 S(20.800)Total assels400,000Llablitles and stockholdere' EquityCurrent labiities.Accounts payable30,15046,0007.2003,600Interest payableIncome tax payable12.15010,000Long term liabilities100.150127.600Notes payableStuckhoiders equity:144.00000 FFCortirmon stockRetained eamings110.350Telaiabiliuca and stockip ders eguity400.000

Solution: Introduction: Horizontal Analysis or trend analysis is a technique to determine the…

Required Informmation Problem 12-3A Perform vertical and hortzontal analysis (L012-1, 12-2) [The following information applies to the questions displayed below.] The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. Problem 12-3A Part 2 Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts ani Decreases should be Indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheete For the yeara ended December 31 Year Increase (Decrease) 2021 2020 Amount Assete Current assets: Cash 103,500 S 70,400 Accounts receivable 46,800 32,000 Inventory 44,550 71,200 Prepaid rent 7,200 3,600 Long term assets. Invesiment in bonds 54,900 Land 117,450 141,600 106,200 Equipment Less: Accumulated depreciation 102,000 (30.600 (20.800) 400,000 Total assels 450,000 Llablities and stockholdere' Equity Current labiities: Accounts payable 30,150 46,800 Interesi payable 7.200 3,600 Income tax payabie 12,150 10,000 Long term liabilities: 108.150 127,600 Notes payable Sluckholders' equity 144.000 144 000 Cortrmon stock Retained eamings 0,350 450 000 S 400.000

Required Informmation Problem 12-3A Perform vertical and hortzontal analysis (L012-1, 12-2) [The following information applies to the questions displayed below.] The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. Problem 12-3A Part 2 Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts ani Decreases should be Indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheete For the yeara ended December 31 Year Increase (Decrease) 2021 2020 Amount Assete Current assets: Cash 103,500 S 70,400 Accounts receivable 46,800 32,000 Inventory 44,550 71,200 Prepaid rent 7,200 3,600 Long term assets. Invesiment in bonds 54,900 Land 117,450 141,600 106,200 Equipment Less: Accumulated depreciation 102,000 (30.600 (20.800) 400,000 Total assels 450,000 Llablities and stockholdere' Equity Current labiities: Accounts payable 30,150 46,800 Interesi payable 7.200 3,600 Income tax payabie 12,150 10,000 Long term liabilities: 108.150 127,600 Notes payable Sluckholders' equity 144.000 144 000 Cortrmon stock Retained eamings 0,350 450 000 S 400.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) ALLENDALE COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount % Total Amount % Total Revenues Sales (net) $ 230,000 100.00 % $ 210,000 100.00 % Other revenues 8,000 5,000 Total revenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, and administrative expense 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Total expenses 206,000 182,200 Net income $ 32,000 % $ 32,800 %
Please solve accounting problem correctly
Please answer 3.1.1 up until 3.1.3
Required information Skip to question [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)
Please answer 3.1.4 up until 3.1.7
Maples group Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/(Decrease Assets Cash and cash equivalent 64,990 61,895 ? Accounts receivable 95,100 88,500 ? Inventories 72,500 79,855 ? Fixed Assets, net ? ? ? Total Assets 442,590 395,800 46,790 Liabilities Accounts payable 45,000 58,350 ? Accrued liabilities ? ? ? Long –term notes payable 99,500 128,550 ? Stockholder’ Equity: Common Stock 143,050 105,110 37,940 Retained earnings 43,540 24,290 19,250 Total liabilities and stockholders’ equity 442, 590 395, 800…
Question 18 Given: 2019 Sales $216,259 2020 Sales $290,149 2019 Operating Income = $102,258 2020 Operating Income = $174,701 2019 Net Income = $55,852 2020 Net Income = $83,735 Calculate DOL: (Enter your answer with 2 decimal places)
Depreciation for Partial Periods Malone Delivery Company purchased a new delivery truck for $45,000 on April 1, 2019. The truck is expected to have a service life of 10 years or 180,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 14,000 miles in 2020. Malone computes depreciation expense to the nearest whole month. Required: 1. Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to the nearest dollar.) a. Straight-line method 2019 2020 2019 b. Sum-of-the-years'-digits 2019 186 X 2020 $ c. Double-declining-balance method. $ tA 2020 d. Activity method 2019 $ 2019 326 X 2020 method 3,782 X 6,846 X 9,000 X $ 7,200 X 2020 $ 3,500 X 2. For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.) a. Straight-line method 44,814 X $ 44,488 X b. Sum-of-the-years'-digits method 2,000 X
ddd
The following financial statements are taken from the records of Karde Inc. Use horizontal analysis techniques to compare the changes between 2019 and 2018 balance sheet items. Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all percentages to the nearest whole number (i.e. 21.61% should be entered as 22%). Karde Inc. Balance Sheet 2019 As at April 30 2018 S Change % Change Current Assets Cash $332,800 $318,600 S Accounts Receivable $236,800 $194,000 S Merchandise Inventory $429,900 $409,300 S Short-Term Investments $84,600 $108,000 S Total Current Assets $1,084,100 $1,029,900 Noncurrent Assets $164,000 $313,100 $ Total Assets $1,248,100 $1,343,000 S S X 27
Hello Tutor, Can I have assistance with creating the attached commomn statement using income and Balance sheet statements along with the interpreation. I would really appreciate it. using the column of difference on Balance sheet and some transactions on income to determine added or subtracted and transfer to appropriate activity (operating, investing, and financing) with numbers (NO ü). Please insert more column as you need Items 2020 2019 Difference Added Subtracted Operating Investing Financing…
Required information Exercise 12-4 (Algo) Prepare vertical and horizontal analyses (LO12-1, 12-2) [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2025 and 2024 are presented below. Exercise 12-4 (Algo) Part 1 Required: 1. Prepare a vertical analysis of the balance sheet data for 2025 and 2024. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity FEDERER SPORTS APPAREL Balance Sheet December 31 Amount $ 2025 $ 3,045,000 1,743,000 3,045,000 15,561,000 (2,394,000) $ 21,000,000 1,827,000 1,827,000 8,778,000 8,568,000 $ 21,000,000 % $ Amount 2024 988,000 1,368,000 2,280,000…