Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Comparative data from the statement of financial position of Benton Ltd. are shown below. 2018 2017 2016 Current assets $1,524,000 $1,182,000 $1,218,000 Property, plant, and

Comparative data from the statement of financial position of Benton Ltd. are shown below.
2018 2017 2016
Current assets $1,524,000 $1,182,000 $1,218,000
Property, plant, and equipment 3,155,000 2,786,000 2,843,000
Goodwill 83,000 93,000 -0-
Total assets $4,762,000 $4,061,000 $4,061,000
image text in transcribed
image text in transcribed
image text in transcribed
Using horizontal analysis, calculate the percentage of the base-year amount, using 2016 as the base year. (Round answers to 1 decimal place, e.g. 52.7%.)
2018 2017 2016
Current assets

image text in transcribed

%

image text in transcribed

%

image text in transcribed

%
Property, plant, and equipment

image text in transcribed

%

image text in transcribed

%

image text in transcribed

%
Total assets

image text in transcribed

%

image text in transcribed

%

image text in transcribed

%
image text in transcribed
image text in transcribed
image text in transcribed
Using vertical analysis, calculate the percentage of the base amount for each year. (Round percentages to 1 decimal places, e.g. 52.7%.)
2018 2017 2016
Amount Percentage Amount Percentage Amount Percentage
Current assets $

image text in transcribed

image text in transcribed

% $

image text in transcribed

image text in transcribed

% $

image text in transcribed

image text in transcribed

%
Property, plant, and equipment

image text in transcribed

image text in transcribed

%

image text in transcribed

image text in transcribed

%

image text in transcribed

image text in transcribed

%
Goodwill

image text in transcribed

image text in transcribed

%

image text in transcribed

image text in transcribed

%

image text in transcribed

image text in transcribed

%
Total assets $

image text in transcribed

image text in transcribed

% $

image text in transcribed

image text in transcribed

% $

image text in transcribed

image text in transcribed

%

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

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

Recommended Textbook for

Cost Management Accounting And Control

Authors: Don R. Hansen, Maryanne Mowen

2nd Edition

0538864451, 978-0538864459

More Books

Students also viewed these Accounting questions

Question

Know why employees turn to unions

Answered: 1 week ago

Question

Understand the process of effective succession planning

Answered: 1 week ago

Question

Understand the history of unionization

Answered: 1 week ago