Question 1
Here is financial information for Glitter Inc.
December 31, 2020 |
December 31, 2019 |
|||
Current assets | $124,600 | $100,000 | ||
Plant assets (net) | 395,010 | 330,000 | ||
Current liabilities | 88,111 | 73,000 | ||
Long-term liabilities | 135,198 | 87,000 | ||
Common stock, $1 par | 166,838 | 119,000 | ||
Retained earnings | 129,463 | 151,000 |
Prepare a schedule showing a horizontal analysis for 2020, using
2019 as the base year. (Enter negative amounts and
percentages using either a negative sign preceding the number e.g.
-45, -45% or parentheses e.g. (45), (45%). Round percentages to 1
decimal place, e.g. 12.3%.)
GLITTER INC. |
||||||||||
Increase or (Decrease) |
||||||||||
2020 |
2019 |
Amount |
Percentage |
|||||||
Assets |
||||||||||
Current assets |
$124,600 |
$100,000 |
$ | % | ||||||
Plant assets (net) |
395,010 | 330,000 | % | |||||||
Total assets |
$519,610 | $430,000 | $ | % | ||||||
Liabilities |
||||||||||
Current liabilities |
$88,111 |
$73,000 |
$ | % | ||||||
Long-term liabilities |
135,198 | 87,000 | % | |||||||
Total liabilities |
223,309 | 160,000 | % | |||||||
Stockholders' Equity |
||||||||||
Common stock, $1 par |
166,838 |
119,000 |
% | |||||||
Retained earnings |
129,463 | 151,000 | % | |||||||
Total stockholders' equity |
296,301 | 270,000 | % | |||||||
Total liabilities and stockholders' equity |
$519,610 | $430,000 | $ | % |
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Open Show Work |
Glitter Inc.- Horizontal analysis | |||||||
Year | Increase ( decrease ) | ||||||
2020 | 2019 | Amount | % | ||||
Current assets | 124600 | 100000 | 24600 | 24.60% | ( 24600 / 100000 ) * 100 = 24.60% | ||
Plant Assets ( net ) | 395010 | 330000 | 65010 | 19.70% | |||
total assets | 519610 | 430000 | 89610 | 20.84% | |||
Liabilities | |||||||
CL | 88111 | 73000 | 15111 | 20.70% | |||
LTL | 135198 | 87000 | 48198 | 55.40% | |||
Total Liabilities | 223309 | 160000 | 63309 | 39.57% | |||
SE | |||||||
Common stock | 166838 | 119000 | 47838 | 40.20% | |||
Retained earnings | 129463 | 151000 | -21537 | -14.26% | |||
Total SE | 296301 | 270000 | 26301 | 9.74% | |||
Total liabilities and S/E | 519610 | 430000 | 89610 | 20.84% |
Question 1 Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current...
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,400 $100,000 Plant assets (net) 394,350 330,000 Current liabilities 86,328 72,000 Long-term liabilities 133,280 85,000 Common stock, $1 par 166,440 120,000 Retained earnings 131,702 153,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1...
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $122,400 $100,000 Plant assets (net) 394,362 327,000 Current liabilities 86,325 75,000 Long-term liabilities 133,672 88,000 Common stock, $1 par 166,374 117,000 Retained earnings 130,391 147,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1...
Exercise 18-03 (Video) Here financial information for Glitter Inc. December 31, 2019 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2020 $124,400 394,788 87,780 137,772 166,362 127,274 $100,000 334,000 70,000 86,000 119,000 159,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages...
Exercise 18-03 (Video) Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $124,200 $100,000 Plant assets (net) 394,630 335,000 Current liabilities 88,416 72,000 Long-term liabilities 131,924 86,000 Common stock, $1 par 165,945 115,000 Retained earnings 132,545 162,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round...
TeSLIUIT Policies ent Attempt in Progress ere is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $122.600 $100,000 330,000 394.350 72.000 Plant assets (net) Current liabilities Long-term liabilities Common stock. $1 par 85.968 133.902 166 210 130 870 86.000 110.000 162.000 Retained earnings Prepare a schedule showing a horizontalanalysis for 2020. using 2019 as the decimal place. e.g. 12.3%.] GLITTER INC. Condensed Balance Sh December 31 2020 2019 Assets MIT N decimal places, s. 12.3%)...
Glitter Inc Balance sheet NEIT. Here is financial information for Glitter Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2020 $124,400 394,788 87,780 137,772 166,362 127.274 December 31, 2019 $100,000 334,000 70,000 85.000 119,000 159,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45),...
Exercise 14-3 (Video) Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings $123,000 395,300 89,279 130,592 166,959 131,470 $100,000 335,000 73,000 88,000 117,000 157,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round...
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 $100,000 $122,600 394,350 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock. $1 par Retained earnings 85,968 133.902 330,000 72.000 86,000 110.000 162.000 166,210 130.870 Prepare a schedule showing a horizontal analysis for 2020. using 2019 as the base year. decimal place. eg 12.3%) GLITTER INC. Condensed Balance Sheets December 31 2020 2019 Amount Assets Current assets Plant assets (net) $122.600 $100.000 394550330 000 $18.950...
*Exercise 18-03 (Video) Here is financial information for Glitter Inc. December 31, 2020 Current assets $123,000 Plant assets (net) 394,471 Current liabilities 87,472 Long-term liabilities 137,192 Common stock, $1 par 166,833 Retained earnings 125,974 December 31, 2019 $100,000 329,000 71,000 88,000 111,000 159,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.. (45), (4596). Round...
December 31, 2020 December 31, 2019 Current assets $123,400 $100,000 Plant assets (net) 394,883 331,000 Current liabilities 88,726 74,000 Long-term liabilities 129,860 86,000 Common stock, $1 par 166,838 119,000 Retained earnings 132,859 152,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC. Condensed...