1. Tucker Grocery operates a small corner grocery market in Berryville, AR where they opened a se...
1. Tucker Grocery operates a small corner grocery market in
Berryville, AR where they opened a second store on the far side of
town on August 2, 2016. On Dec. 31, 2016 they closed their books on
their second year in business. Excerpts from their financial
statements are shown below.
Stubb’s Grocery has been operating a small grocery store in
Berryville for two generations. Excerpts from their financial
statements are also provided below.
Please calculate the overall and comparative sales increases for
both companies and compare and contrast the numbers. Comment on the
growth and health of each company.
|
Tucker Grocery |
Stubb’s Grocery |
||||||
|
Income Statement |
Income Statement |
||||||
|
Dec. 31, 2016 |
Dec. 31, 2016 |
||||||
|
2015 |
2016 |
2015 |
2016 |
||||
|
Sales Store 1 |
52,000 |
52,780 |
Sales Store 1 |
43,000 |
45,150 |
||
|
Sales Store 2 |
NA |
21,240 |
|||||
Homework Answers
Tucker company's overall sales for both stores combined has grown by 42.35% which is a decent growth in one year. however, Store 1's sales have only grown by 1.5% which is very marginal and the major growth in overall sales is only contributed due to the new store 2.
Stubbs Grocery has had an increase of 5% which is very minimal given the fact that is has been operating for over two generations.
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1. Tucker Grocery operates a small corner grocery market in Berryville, AR where they opened a se...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green
Market, a small grocery store, at December 31, Year 1. The accounts
are listed in alphabetical order, and all have normal balances.
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. 200 Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merehandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salarios expense Rent expense Gain on sale of land 423 213 700 57 320 53 648 1.130 260 100 Required Prepare an...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green
Market, a small grocery store, at December 31, Year 1. The accounts
are listed in alphabetical order, and all have normal
balances.
Accounts payable
$
800
Accounts receivable
2,250
Advertising expense
600
Cash
1,850
Common stock
2,000
Cost of goods sold
2,950
Interest expense
120
Merchandise inventory
1,250
Prepaid rent
720
Retained earnings, 1/1/Year 1
2,610
Sales revenue
5,600
Salaries expense
960
Rent expense
510
Gain on sale of land...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land $ 614 414 200 424 214 700 56 310 54 649 1,140 270 100...
The following Information was taken from the accounts of Green Market, a small grocery store, at...
The following Information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. $ 604 404 200 Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land 414 284 600 66 410 44 639 1,040 170 100...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land 607 407 200 417 207 600 63 380 47 642 1,070 200 100 112...
The following Information was taken from the accounts of Green Market, a small grocery store, at...
The following Information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2 The accounts are listed in alphabetical order, and all have normal balances. $ 60 400 200 410 200 600 78 Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land 450 40 635 1,000 130 110...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land $ 800 2,250 600 1,850 2,000 2,950 120 1,250 720 2,610 5,600 960 510...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. Dollar amounts are given in thousands. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salaries expense Rent expense Gain on sale of land $ 800 2,250 600 1,850 2,000 2,950 120...
The following information was taken from the accounts of Green Market, a small grocery store, at...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. Dollar amounts are given in thousands. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salaries expense Rent expense Gain on sale of land $ 605 405 200 415 205 600 65...
The following information was taken from the accounts of Green
Market, a small grocery store, at December 31, Year 1. The accounts
are listed in alphabetical order, and all have normal balances.
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. 200 Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merehandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salarios expense Rent expense Gain on sale of land 423 213 700 57 320 53 648 1.130 260 100 Required Prepare an...
The following information was taken from the accounts of Green
Market, a small grocery store, at December 31, Year 1. The accounts
are listed in alphabetical order, and all have normal
balances.
Accounts payable
$
800
Accounts receivable
2,250
Advertising expense
600
Cash
1,850
Common stock
2,000
Cost of goods sold
2,950
Interest expense
120
Merchandise inventory
1,250
Prepaid rent
720
Retained earnings, 1/1/Year 1
2,610
Sales revenue
5,600
Salaries expense
960
Rent expense
510
Gain on sale of land...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land $ 614 414 200 424 214 700 56 310 54 649 1,140 270 100...
The following Information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. $ 604 404 200 Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land 414 284 600 66 410 44 639 1,040 170 100...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land 607 407 200 417 207 600 63 380 47 642 1,070 200 100 112...
The following Information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2 The accounts are listed in alphabetical order, and all have normal balances. $ 60 400 200 410 200 600 78 Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land 450 40 635 1,000 130 110...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land $ 800 2,250 600 1,850 2,000 2,950 120 1,250 720 2,610 5,600 960 510...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. Dollar amounts are given in thousands. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salaries expense Rent expense Gain on sale of land $ 800 2,250 600 1,850 2,000 2,950 120...
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances. Dollar amounts are given in thousands. Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salaries expense Rent expense Gain on sale of land $ 605 405 200 415 205 600 65...
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