Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

2. Prepare a horizontal analysis of Fantasy Football's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by

image text in transcribed
image text in transcribed
2. Prepare a horizontal analysis of Fantasy Football's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FANTASY FOOTBALL Balance Sheets December 31 Year 2021 Increase (Decrease) Amount % 2020 $ 102.000 S 892 800 2.659,200 172,800 414,000 1.251 200 1,587 000 133 400 Assets Current assets Cash Accounts receivable Inventory Supplies Long-term assets Equipment Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable TRAR 1.545.000 682400) $4800 000 S 1545 600 (331,200) 4 600 000 $ 148 800$ 105 800 2,659 200 172,800 1,587,000 133,400 1,545,600 1,545,600 (662,400) (331,200) $ 4,800,000 $4,600,000 Inventory Supplies Long term assets Equipment Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholders equity 148 800 S 0 105,800 4,600 110,400 110.400 1.104,000 1.104.000 1,012.000 2.424 800 4,800.000 $ 1,012.000 2.263 200 4.600.000 S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions