Question

Prepare a comparative balance sheet of Skysong Company showing the dollar change and the percent change for each item. either a negative sign, i.e. -92,000, -25.25 or parent i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25)) SKYSONG COMPANY Comparative Balance Sheet December 31, 2018 and 2017 December 31 Increase or (Decrease) 2018 2017 $ Change % Change Assets Cash $179,700 $273,700 Accounts receivable (net) 219,900 153,800 Investments 269,000 149,000 Inventories 1,056,200 988,300 Prepaid expenses 25,100 25,100 Plant and equipment 2,583,400 1,944,700 (993,200 ) (756,300 ) Accumulated depreciation Total Total $3,340,100 $2,778,300 Liabilities and Stockholders' Equity Accounts payable $49,800 $75,000 Accrued expenses 169,600 198,600 Bonds payable 452,600 191,400 Capital stock 2,093,100 1,760,400 Retained earnings 575,000 552,900 Total $3,340,100 $2,778,300

Answer 1

Correct Answer:

Skysong Company
Comparative balance sheet
December 31, 2018 & 2017
	Dec-31		Increase or (Decrease)
Assets	2018	2017	$ change	%change
Cash	$              179,700	$              273,700	$           (94,000)	-34%
Accounts receivable (net)	$              219,900	$              153,800	$             66,100	43%
Investments	$              269,000	$              149,000	$           120,000	81%
Inventories	$          1,056,200	$              988,300	$             67,900	7%
Prepaid expenses	$                25,100	$                25,100	$                       -	0%
Palnt and equipment	$          2,583,400	$          1,944,700	$           638,700	33%
Accumulated depreciation	$           (993,200)	$           (756,300)	$         (236,900)	31%
Total	$          3,340,100	$          2,778,300	$           561,800	20%
Liabilities and stockholders' Equity
accounts payable	$                49,800	$                75,000	$           (25,200)	-34%
Accrued expenses	$              169,600	$              198,600	$           (29,000)	-15%
Bonds payable	$              452,600	$              191,400	$           261,200	136%
Capitla stock	$          2,093,100	$          1,760,400	$           332,700	19%
Retained earnings	$              575,000	$              552,900	$             22,100	4%
total	$          3,340,100	$          2,778,300	$           561,800	20%

End of answer.

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