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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Bethesda Mining Company reports the following balance sheet information for 2013 and 2014.
| Required: |
|
Prepare the 2013 and 2014 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) |
| BETHESDA MINING COMPANY Balance Sheets as of December 31, 2013 and 2014 |
|||||||||||||||||||||
| Â | 2013 | 2014 | Â | 2013 | 2014 | ||||||||||||||||
| Assets |  |  |  |  |  |  |  |  |  |  | Liabilities and OwnersAc€?c Equity |  |  |  |  |  |  |  |  |  |  |
| Â Â Current assets | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â Current liabilities | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Â Â Â Â Cash | $ | 63,014 | Â | Â | % | $ | 79,447 | Â | Â | % | Â Â Â Â Â Accounts payable | $ | 187,422 | Â | Â | % | $ | 195,111 | Â | Â | % |
| Â Â Â Â Accounts receivable | Â | 64,781 | Â | Â | % | Â | 85,139 | Â | Â | % | Â Â Â Â Â Notes payable | Â | 82,520 | Â | Â | % | Â | 134,088 | Â | Â | % |
| Â Â Â Â Inventory | Â | 117,852 | Â | Â | % | Â | 182,862 | Â | Â | % | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Â Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â Â Â Â Â Â Â Â Total | $ | 269,942 | Â | Â | % | $ | 329,199 | Â | Â | % |
| Â Â Â Â Â Â Total | $ | 245,647 | Â | Â | % | $ | 347,448 | Â | Â | % | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â Long-term debt | $ | 232,000 | Â | Â | % | $ | 168,750 | Â | Â | % |
|  |  |  |  |  |  |  |  |  |  |  |   OwnersAc€?c equity |  |  |  |  |  |  |  |  |  |  |
| Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â Â Â Â Common stock and paid-in surplus | $ | 223,000 | Â | Â | % | $ | 223,000 | Â | Â | % |
| Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â Â Â Â Accumulated retained earnings | Â | 179,352 | Â | Â | % | Â | 216,427 | Â | Â | % |
| Â Â Fixed assets | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Â Â Â Â Net plant and equipment | $ | 658,647 | Â | Â | % | $ | 589,928 | Â | Â | % | Â Â Â Â Â Â Â Â Â Â Â Total | $ | 402,352 | Â | Â | % | $ | 439,427 | Â | Â | % |
| Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â Â Â Â Â Â Â Â Â Â Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
|   Total assets | $ | 904,294 |  |  | % | $ | 937,376 |  |  | % |   Total liabilities and ownersAc€?c equity | $ | 904,294 |  |  | % | $ | 937,376 |  |  | |
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