Question

please complete condensed balance sheet.

The Cougar Hotel Condensed Balance Sheet December 31, 20X7 and 20x8 20x1 20x2 Changes Assets Current Assets Cash Accounts Receivable Inventory Prepaids Total Current Assets 305,124 522,417 199,000 52,000 1,078,541 159,000 456,377 247,000 49,000 911,377 0.85% 2.45% 1.33% 0.26% 4.89% Investments 1,000,000 1,000,000 5.37% Property and Equipment Land Building Equipment Accumulated Depreciation Net Property and Equipment 1,618,000 18,328,000 5,896,022 (8,118,000) 17,724,022 1,618,000 18,328,000 6,755,640 (9,987,560) 16,714,080 8.69% 98.40% 36.279 -53.62% 89.74% Total Assets 19,802,563 18,625,457 100.00% Liabilities & Owners' Equity Current Liabilities Accounts Payable Accrued Expenses Advanced Deposits Total Current Liabilities 325,699 507,353 200,561 1,033,613 338,790 308,765 250,970 898,525 1.82% 1.66% 1.35% 4.82% Mortgage Payable 5,734,700 5,249,800 28.19% Common Stock Retained Earnings 3,000,000 10,034,250 3,000,000 9,477,132 16.11% 50.88% Total Liabilities and Owners' Equity 19,802,563 18,625,457 100.00%

Answer 1

Ans.	The Cougar Hotel
	Condensed Balance Sheet
		20X1		20X2		Changes
		$	%	$	%	$	%
	Assets
	Current Assets:
	Cash	$305,124	1.54%	$159,000	0.85%	-$146,124	-47.89%
	Accounts receivable	$522,417	2.64%	$456,377	2.45%	-$66,040	-12.64%
	Inventory	$199,000	1.00%	$247,000	1.33%	$48,000	24.12%
	Prepaids	$52,000	0.26%	$49,000	0.26%	-$3,000	-5.77%
	Total current assets	$1,078,541	5.45%	$911,377	4.89%	-$167,164	-15.50%
	Investments	$1,000,000	5.05%	$1,000,000	5.37%	$0	0.00%
	Property and equipment:
	Land	$1,618,000	8.17%	$1,618,000	8.69%	$0	0.00%
	Building	$18,328,000	92.55%	$18,328,000	98.40%	$0	0.00%
	Equipment	$5,896,022	29.77%	$6,755,640	36.27%	$859,618	14.58%
	Accumulated depreciation	-$8,118,000	-40.99%	-$9,987,560	-53.62%	-$1,869,560	23.03%
	Net Property and Equipment	$17,724,022	89.50%	$16,714,080	89.74%	-$1,009,942	-5.70%
	Total assets	$19,802,563	100.00%	$18,625,457	100.00%	-$1,177,106	-5.94%
	Liabilities and Owner's Equity:
	Current Liabilities:
	Accounts payable	$325,699	1.64%	$338,790	1.82%	$13,091	4.02%
	Accrued expense	$507,353	2.56%	$308,765	1.66%	-$198,588	-39.14%
	Advanced deposits	$200,561	1.01%	$250,970	1.35%	$50,409	25.13%
	Total current liabilities	$1,033,613	5.22%	$898,525	4.82%	-$135,088	-13.07%
	Mortgage payable	$5,734,700	28.96%	$5,249,800	28.19%	-$484,900	-8.46%
	Common stock	$3,000,000	15.15%	$3,000,000	16.11%	$0	0.00%
	Retained earnings	$10,034,250	50.67%	$9,477,132	50.88%	-$557,118	-5.55%
	Total liabilities and owner's equity	$19,802,563	100.00%	$18,625,457	100.00%	-$1,177,106	-5.94%
	Amount is percentage from assets side (20 X 1) =   Particular amount from assets side (20 X 1) / Total assets (20 x 1) * 100
	Amount is percentage from liabilities side (20 X 1) =   Particular amount from liability side (20 x 1)/ Total liabilities and owner's equity (20 X 1) * 100
	Amount is percentage from assets side (20 X 2) =   Particular amount from assets side (20 X 2) / Total assets (20 x 2) * 100
	Amount is percentage from liabilities side (20 X 2) =   Particular amount from liability side (20 x 2)/ Total liabilities and owner's equity (20 X 2) * 100
	Change in amount ($) = Particular amount of current year 20 X 2 - Particular amount of previous year 20 X 2
	Change in percentage (%) = Change in amount / particular amount of base (20 x 1) or previous year * 100