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What is the comparative common size statement of financial condition for the year ended Dec. 2020? Additional information: • There are only 300 business days during the year. The annual amortization of long term notes is 250,000.

What is the comparative common size statement of financial condition for the year ended Dec. 2020? Additional information: • There are only 300 business days during the year. The annual amortization of long term notes is 250,000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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What is the comparative common size statement of financial condition for the year ended Dec. 2020? Additional information: • There are only 300 business days during the year. The annual amortization of long term notes is 250,000.
Statement of Financial Condition Accounts (Dec 31) Cash 2019 2020 P 150,000 P 283,000 Marketable Securities 850,000 1,000,000 Accounts Receivables, net 500,000 1,000,000 Inventories 750,000 500,000 Land 500,000 500,000 Building, net 550,000 500,000 1,700,000 400,000 1,500,000 Machinery and Equipment, net Goodwill 400,000 Other Assets 100,000 90,000 Notes Payable, Trade Accounts Payable, net Expenses Payable 100,000 610,000 40,000 2,500,000 150,000 790,000 60,000 Long- term notes- due 2014 15% Preferred Stocks, P100 Par 2,250,000 500,000 500,000 Common Stock, P10 Par Retained Earnings 1,500,000 1,500,000 250,000 523,000
Transcribed Image Text:Statement of Financial Condition Accounts (Dec 31) Cash 2019 2020 P 150,000 P 283,000 Marketable Securities 850,000 1,000,000 Accounts Receivables, net 500,000 1,000,000 Inventories 750,000 500,000 Land 500,000 500,000 Building, net 550,000 500,000 1,700,000 400,000 1,500,000 Machinery and Equipment, net Goodwill 400,000 Other Assets 100,000 90,000 Notes Payable, Trade Accounts Payable, net Expenses Payable 100,000 610,000 40,000 2,500,000 150,000 790,000 60,000 Long- term notes- due 2014 15% Preferred Stocks, P100 Par 2,250,000 500,000 500,000 Common Stock, P10 Par Retained Earnings 1,500,000 1,500,000 250,000 523,000
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