Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Comparative Balance Sheets Consider the following balance sheet data for Great Buy Co . , Inc. ( amounts in thousands ) : Current Year Prior

Comparative Balance Sheets
Consider the following balance sheet data for Great Buy Co., Inc. (amounts in thousands):
Current Year Prior Year
Cash and cash equivalents $59,872 $7,138
Accounts receivables 52,94437,968
Merchandise inventories 637,950249,991
Other current assets 13,8449,829
Current Assets 764,610304,926
Property and equipment (net)172,724126,442
Other assets 15,1607,774
Total Assets $952,494 $439,142
Current Liabilities $402,028 $186,005
Long-term liabilities 239,02270,854
Total Liabilities 641,050256,859
Common stock 2,0871,149
Additional paid-in-capital 224,089137,151
Retained earnings 85,26843,983
Total Stockholders Equity 311,444182,283
Total Liabilities and Stockholders Equity $952,494 $439,142
Prepare a comparative balance sheet, showing increases in dollars and percentages.
(Round percentages to one decimal.)
Great Buy Co., Inc.
Comparative Balance Sheets
(Thousands of Dollars)
Increase Percent
Current Year Prior Year (Decrease) Change
Assets
Cash and cash equivalents
Accounts receivables
Merchandise inventories
Other current assets
Current assets
Property and equipment (Net)
Other assets
Total Assets
Liabilities
Current liabilities
Long-term liabilities
Total Liabilities
Stockholders Equity
Common stock
Additional paid-in-capital
Retained earnings
Total Stockholders Equity
Total Liabilities & Stockholders Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Accounting And Auditing Research Tools And Strategies

Authors: Thomas R. Weirich, Thomas C. Pearson, Natalie Tatiana Churyk

7th Edition

9780470506974

More Books

Students also viewed these Accounting questions

Question

Explain the relationship of job design to employee contributions.

Answered: 1 week ago

Question

Discuss the steps in human resource planning.

Answered: 1 week ago