JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017 |
2017 |
2016 |
||
Current assets: |
|||
Cash and cash equivalents |
$ 204 |
$ 133 |
|
Accounts receivable |
267 |
157 |
|
Inventories |
131 |
264 |
|
Prepaid insurance |
12 |
42 |
|
Total current assets |
614 |
596 |
|
Long term assets: |
|||
Property, plant, and equipment |
245 |
260 |
|
Less accumulated depreciation |
- 140 |
- 125 |
|
Property, plant, and equipment, net |
105 |
135 |
|
Total assets |
$ 719 |
$ 731 |
|
Current liabilities: |
|||
Accounts payable |
$ 97 |
$ 83 |
|
Wages payable |
20 |
17 |
|
Current portion of long term notes |
132 |
33 |
|
Total current liabilities |
249 |
133 |
|
Long term liabilities: |
|||
Notes payable |
98 |
198 |
|
Total liabilities |
347 |
331 |
|
Stockholders' equity: |
|||
Common stock |
103 |
117 |
|
Retained earnings |
269 |
283 |
|
Total Stockholders' equity |
372 |
400 |
|
Total liabilities and stockholders' equity |
$ 718 |
$ 731 |
Using common-size analysis, what percentage would be attributable
to the 2016 accumulated depreciation of Joshua Company?
Select one:
A. 20.3 percent
B. (17.1) percent
C. (20.3) percent
D. 22.5 percent
Below is the balance sheet for Joshua Company.
JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017 |
2017 |
2016 |
||
Current assets: |
|||
Cash and cash equivalents |
$ 204 |
$ 133 |
|
Accounts receivable |
267 |
157 |
|
Inventories |
131 |
264 |
|
Prepaid insurance |
12 |
42 |
|
Total current assets |
614 |
596 |
|
Long term assets: |
|||
Property, plant, and equipment |
245 |
260 |
|
Less accumulated depreciation |
- 140 |
- 125 |
|
Property, plant, and equipment, net |
105 |
135 |
|
Total assets |
$ 719 |
$ 731 |
|
Current liabilities: |
|||
Accounts payable |
$ 97 |
$ 83 |
|
Wages payable |
20 |
17 |
|
Current portion of long term notes |
132 |
33 |
|
Total current liabilities |
249 |
133 |
|
Long term liabilities: |
|||
Notes payable |
98 |
198 |
|
Total liabilities |
347 |
331 |
|
Stockholders' equity: |
|||
Common stock |
103 |
117 |
|
Retained earnings |
269 |
283 |
|
Total Stockholders' equity |
372 |
400 |
|
Total liabilities and stockholders' equity |
$ 718 |
$ 731 |
Using common-size analysis, what percentage would be attributable
to the 2017 wages payable of Joshua Company?
Select one:
A. 3.1 percent
B. 2.8 percent
C. 3.8 percent
D. 17.2 percent
1) | 2016 accumulated depreciation | ||||
accumulated depreciation/total assets | |||||
-17.1% | |||||
option B) | (17.1) percent | ||||
2) | 2017 wages payable | ||||
20/719 | |||||
2.8% | |||||
option B) | 2.8 percent | ||||
JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017 2017 2016 Current assets: Cash and...
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OSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017 2017 2016 Current assets: Cash and cash equivalents $ 204 $ 133 Accounts receivable 267 157 Inventories 131 264 Prepaid insurance 12 42 Total current assets 614 596 Long term assets: Property, plant, and equipment 245 260 Less accumulated depreciation - 140 - 125 Property, plant, and equipment, net 105 135 Total assets $ 719 $ 731 Current liabilities: Accounts payable $ 97 $ 83 Wages payable 20 17 Current...
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