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Requirements: 1. Prepare a schedule showing a horizontal analysis for 2020 using 2019 as the base year by calculating the missing amounts of the schedule. Show all your calculation and workings.

Requirements: 1. Prepare a schedule showing a horizontal analysis for 2020 using 2019 as the base year by calculating the missing amounts of the schedule. Show all your calculation and workings.

FINANCIAL ACCOUNTING
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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D1- Please solve all sub-part questions with all steps. Thanks

Requirements: 1. Prepare a schedule showing a horizontal analysis for 2020 using 2019 as the base year by calculating the missing amounts of the schedule. Show all your calculation and workings. After you have completed the schedule consider the additional question. Assume that Non-Current assets and long-term debt changed in 2020 to OMR 415,000 and OMR 152,000 respectively.
Transcribed Image Text:Requirements: 1. Prepare a schedule showing a horizontal analysis for 2020 using 2019 as the base year by calculating the missing amounts of the schedule. Show all your calculation and workings. After you have completed the schedule consider the additional question. Assume that Non-Current assets and long-term debt changed in 2020 to OMR 415,000 and OMR 152,000 respectively.
Financial information for MMM Inc. is presented below. Increase or (Decrease) during 2020 December 31, 2020 December 31, 2019 Assets Current assets Non-Current Assets Amount 100,000 OMR a. 330.000 c. Percentage b. d. h. 125,000 OMR 396,000 Total assets 19. Liabilities Current liabilities Long-term debt 91,000 OMR 70,000 OMR $21,000 30.0% 133,000 95,000 $38,000 40.0% Total liabilities 224.000 165.000 $59,000 35.8% Stockholders' Equity Common stock, $1 par Retained earnings Total Stockholder's Equity 161,000 115,000 46,000 40.0% 136,000 150,000 (14,000) -9.3% 297.000 265.000 32,000 12.1% Total Liabilities & Stockholder's Equity 521.000 OMR 430.000 OMR 91,000 21.2%
Transcribed Image Text:Financial information for MMM Inc. is presented below. Increase or (Decrease) during 2020 December 31, 2020 December 31, 2019 Assets Current assets Non-Current Assets Amount 100,000 OMR a. 330.000 c. Percentage b. d. h. 125,000 OMR 396,000 Total assets 19. Liabilities Current liabilities Long-term debt 91,000 OMR 70,000 OMR $21,000 30.0% 133,000 95,000 $38,000 40.0% Total liabilities 224.000 165.000 $59,000 35.8% Stockholders' Equity Common stock, $1 par Retained earnings Total Stockholder's Equity 161,000 115,000 46,000 40.0% 136,000 150,000 (14,000) -9.3% 297.000 265.000 32,000 12.1% Total Liabilities & Stockholder's Equity 521.000 OMR 430.000 OMR 91,000 21.2%
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