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Category > Accounting Posted 10 Jun 2017 My Price 5.00

Prepare a schedule showing a horizontal analysis for 2014, using 2013 as the base year

 

Here is financial information for Spangles Inc.

   

December 31, 2014

  

December 31, 2013
Current assets   $110,630   $ 93,080
Plant assets (net)   403,080   354,630
Current liabilities   102,080   69,630
Long-term liabilities   126,630   93,080
Common stock, $1 par   134,630   119,630
Retained earnings   150,370   165,370


Prepare a schedule showing a horizontal analysis for 2014, using 2013 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)

SPANGLES INC.
Condensed Balance Sheet
December 31
             

Increase or (Decrease)
   

2014

  

2013

    

Amount

  

Percentage

Assets

                    

Current Assets

  

$110,630

  

$93,080

    

$

  

%

Plant assets (net)

  

403,080

  

354,630

    

 

%

   Total assets

  

$513,710

  

$447,710

    

$

  

%

Liabilities

                    

Current Liabilities

  

$102,080

  

$69,630

    

$

  

%

Long-term liabilities

  

126,630

  

93,080

    

 

%

   Total liabilities

  

$228,710

  

$162,710

    

$

  

%

StockholdersAc€?c Equity

                    

Common stock, $1 par

  

134,630

  

119,630

    

 

%

Retained earnings

  

150,370

  

165,370

    

 

%

   Total stockholdersAc€?c equity

  

285,000

  

285,000

    

 

%

   Total liabilities and stockholdersAc€?c equity

  

$513,710

  

$447,710

    

$

  

%
 
 

Answers

Alpha Geek
(8)
Status NEW Posted 10 Jun 2017 06:06 AM My Price 5.00

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Attachments

file 1497076738-Answer.docx preview (47 words )
A-----------nsw-----------er ----------- SP-----------ANG-----------LES----------- IN-----------C. ----------- C-----------ond-----------ens-----------ed -----------Bal-----------anc-----------e S-----------hee-----------t D-----------ece-----------mbe-----------r 3-----------1 I-----------ncr-----------eas-----------e o-----------r (-----------Dec-----------rea-----------se)----------- 20-----------14 -----------201-----------3 ----------- Am-----------oun-----------t P-----------erc-----------ent-----------age----------- As-----------set-----------s ----------- Cu-----------rre-----------nt -----------Ass-----------ets----------- $1-----------10,-----------630----------- $9-----------3,0-----------80 -----------$17-----------,55-----------0 1-----------8.9-----------% ----------- Pl-----------ant----------- as-----------set-----------s (-----------net-----------) 4-----------03,-----------080----------- 35-----------4,6-----------30 -----------48,-----------450----------- 13-----------.7%----------- -----------Tot-----------al -----------ass-----------ets----------- $5-----------13,-----------710----------- $4-----------47,-----------710----------- $6-----------6,0-----------00 -----------14.-----------7% ----------- L-----------iab-----------ili-----------tie-----------s C-----------urr-----------ent----------- li-----------abi-----------lit-----------ies----------- $1-----------02,-----------080----------- $6-----------9,6-----------30 -----------$32-----------,45-----------0 4-----------6.6-----------% ----------- Lo-----------ng------------ter-----------m l-----------iab-----------ili-----------tie-----------s 1-----------26,-----------630----------- 93-----------,08-----------0 3-----------3,5-----------50 -----------36 ----------- -----------
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