Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 9.00

Spangles Inc.

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

(5)
Status NEW Posted 30 Jul 2017 12:07 AM My Price 9.00

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