From the following comparative balance sheet of Haynes Co., prepare a common-size comparative balance sheet. (Round...
From the following comparative balance sheet of Haynes Co., prepare a common-size comparative balance sheet. (Round all percentages to the nearest tenth of a percent.)
Homework Answers
Common size balance sheet is a statement which summarizes company’s equities, liabilities and assets. It is used for the purpose of analysis. It is a statement in which items are expressed as a relative percentage of assets.
Common size balance sheet helps to compare the performance of the companies. This is a useful measure as it allows for quick comparisons. It helps in the analysis of financial statement.
In the given question Common-size Comparative Balance Sheet is to be prepared for HC. It is prepared by converting the dollar amount into percentage. In the statement given below each item of assets line is expressed as a percentage of Total Assets and each item of liability or stockholders’ equity are expressed as a percentage of total liabilities and stockholders’ equity.
The following statement shows the Common-size Balance Sheet.
The following statement shows the calculation of the items which is to be reported as a percentage of total assets in assets line and which is to be reported as a percentage of total liabilities and stockholders’ equity in the liabilities or stockholders’ equity line.
The common size comparative balance sheet shows that the current assets of the company increased from 
in 2015 to 
in the year 2016. The Plant and Equipment of the company dropped from 
in 2015 to 
in the year 2016.
The common size comparative balance sheet shows that the total liabilities of the company have dropped from 
in 2015 to 
in the year 2016. The total stockholders’ equity of the company has increased from 
in 2015 to 
in the year 2016.
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From the following comparative balance sheet of Haynes Co., prepare a common-size comparative balance sheet. (Round...
Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to 0 decimal places,...
Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to 0 decimal places, eg, 12%.) Delta COMPANY Comparative Balance Sheet December 31, 2017 2016 Amount Percentage Amounft $280 520 ssets Percentage Current assets $450 Plant assets 550 Total assets Liabilities and stockholders' equity Current liabilities Long-term debt Common stock $1,000 $800 $120 160 320 200 $180 250 310 Retained earnings 260 Total liabilities and stockholders' equity $1,000 $800
Use the above comparative balance sheet to answer the following problem: Sevignys Salon, Inc Comparative Balance...
Use the above comparative balance sheet to answer the following
problem:
Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761...
Prepare a common-size balance sheet from the following information for Carla Vista Supply Company. (Round answers...
Prepare a common-size balance sheet from the following
information for Carla Vista Supply Company. (Round answers
to 1 decimal place, e.g. 52.7%.)
Carla Vista Supply Company Balance Sheet as of June 30, 2017($ thousands) % of Assets Liabilities and Equity: Accounts payable Notes payable Assets: % of Assets Cash and marketable securities $395,000 706,000 1,162,000 42,600 $2,305,600 1,982,000 $817,000 112,000 43,100 $972,100 1,154,000 $2,126,100 1,312,000 849,500 $2,161,500 $4,287,600 Accounts receivable Inventory Accrued income taxes Other current assets Total current...
Common-Size Balance Sheets and Horizontal Analysis Comparative balance sheets for Farinet Company for the past two...
Common-Size Balance Sheets and Horizontal Analysis Comparative balance sheets for Farinet Company for the past two years are as follows: Cash Accounts receivable Inventory Prepaid rent Total current assets Land Plant and equipment Accumulated depreciation Total long-term assets Total assets Accounts payable Income taxes payable Short-term notes payable Total current liabilities Bonds payable Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity December 31 2017 2016 $16,510 $19,500 40,700 30,470 29,860 49,390 18,300 12,390 $105,370 $111,750 $149,430...
Use the above comparative balance sheet to answer the following problem: Sevignys Salon, Inc Comparative Balance...
Use the above comparative balance sheet to answer the following
problem:
Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761...
Use the above comparative balance sheet to answer the following question: Sevignys Salon, Inc Comparative Balance...
Use the above comparative balance sheet to answer the following
question:
Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761...
Question 36 10 pts The comparative balance sheet for Silverlight Co. is shown below. Express the...
Question 36 10 pts The comparative balance sheet for Silverlight Co. is shown below. Express the balance sheet in common-size percentages. ***Round to whole number*** Year 2 Year 1 96 100 $34.20 Cash $35.70 112 100 85.50 Accounts receivable 76.50 137 100 Merchandise inventory 125.40 91.80 106 100 Plant assets (net) 324.90 306.00 112 100 $570.00 Total assets $510.00 67 100 Accounts payable $ 51.30 $ 76.50 149 100 159.60 Bonds payable 107.10 105 100 279.30 Common stock 265.20 130...
To convert a balance sheet into a common-size balance sheet statement, we restate all the numbers...
To convert a balance sheet into a common-size balance sheet statement, we restate all the numbers as percentages of total owners' equity total assets revenue total liabilities
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year % $ % $ Sales Cost...
Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to 0 decimal places, eg, 12%.) Delta COMPANY Comparative Balance Sheet December 31, 2017 2016 Amount Percentage Amounft $280 520 ssets Percentage Current assets $450 Plant assets 550 Total assets Liabilities and stockholders' equity Current liabilities Long-term debt Common stock $1,000 $800 $120 160 320 200 $180 250 310 Retained earnings 260 Total liabilities and stockholders' equity $1,000 $800
Use the above comparative balance sheet to answer the following
problem:
Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761...
Prepare a common-size balance sheet from the following
information for Carla Vista Supply Company. (Round answers
to 1 decimal place, e.g. 52.7%.)
Carla Vista Supply Company Balance Sheet as of June 30, 2017($ thousands) % of Assets Liabilities and Equity: Accounts payable Notes payable Assets: % of Assets Cash and marketable securities $395,000 706,000 1,162,000 42,600 $2,305,600 1,982,000 $817,000 112,000 43,100 $972,100 1,154,000 $2,126,100 1,312,000 849,500 $2,161,500 $4,287,600 Accounts receivable Inventory Accrued income taxes Other current assets Total current...
Common-Size Balance Sheets and Horizontal Analysis Comparative balance sheets for Farinet Company for the past two years are as follows: Cash Accounts receivable Inventory Prepaid rent Total current assets Land Plant and equipment Accumulated depreciation Total long-term assets Total assets Accounts payable Income taxes payable Short-term notes payable Total current liabilities Bonds payable Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity December 31 2017 2016 $16,510 $19,500 40,700 30,470 29,860 49,390 18,300 12,390 $105,370 $111,750 $149,430...
Use the above comparative balance sheet to answer the following
problem:
Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761...
Use the above comparative balance sheet to answer the following
question:
Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761...
Question 36 10 pts The comparative balance sheet for Silverlight Co. is shown below. Express the balance sheet in common-size percentages. ***Round to whole number*** Year 2 Year 1 96 100 $34.20 Cash $35.70 112 100 85.50 Accounts receivable 76.50 137 100 Merchandise inventory 125.40 91.80 106 100 Plant assets (net) 324.90 306.00 112 100 $570.00 Total assets $510.00 67 100 Accounts payable $ 51.30 $ 76.50 149 100 159.60 Bonds payable 107.10 105 100 279.30 Common stock 265.20 130...
To convert a balance sheet into a common-size balance sheet statement, we restate all the numbers as percentages of total owners' equity total assets revenue total liabilities
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year % $ % $ Sales Cost...
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