Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with horizontal and vertical analysis. Please show work so that I understand how you got the answers. AP244 (a and b) (Horizontal

I need help with horizontal and vertical analysis. Please show work so that I understand how you got the answers.image text in transcribed

AP244 (a and b) (Horizontal and Vertical Analysis) Presented below are comparative balance sheets for the Gilmour Company. GILMOUR COMPANY Comparative Balance Sheet As of December 31, 2013 and 2012 31Dec 2013 Assets Cash Accounts receivable (net) Shortterm investments Inventories Prepaid expense Fixed assets Accumulated depreciation Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings 2012 $180,000 219,200 270,700 1,059,000 25,580 2,586,000 1,000,000 $3,340,480 $275,400 155,200 150,700 979,900 25,580 1,950,000 749,700 $2,787,080 $49,350 169,700 450,900 2,099,000 571,530 $3,340,480 $74,620 200,800 190,900 1,770,000 550,760 $2,787,080 Instructions Complete the comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total liabilities and stockholders' equity.(Round percentages to two decimal places eg 5.89) GILMOUR COMPANY Comparative Balance Sheet As of December 31, 2013 and 2012 31Dec 2013 Assets Cash Accounts receivable (net) Shortterm investments Inventories Prepaid expense Fixed assets Accumulated depreciation 2012 % % $180,000 219,200 270,700 1,059,000 25,580 2,586,000 $275,400 155,200 150,700 979,900 25,580 1,950,000 1,000,000 ) 749,700 $3,340,480 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $49,350 169,700 450,900 2,099,000 571,530 $3,340,480 ) $2,787,080 $74,620 200,800 190,900 1,770,000 550,760 $2,787,080 Complete the comparative balance sheet of Gilmour Company showing the dollar change and the percent change for each item. (Round percentages to two decimal places eg 5.89. If answer is zero, please enter 0. Do not leave any fields blank. If $ or % change are a decrease put amounts in parenthesis eg (15,000) (5.98).) GILMOUR COMPANY Comparative Balance Sheet As of December 31, 2013 and 2012 31Dec Assets Cash Accounts receivable (net) Shortterm investments Inventories Prepaid expense Fixed assets Accumulated depreciation Increase or (Decrease) 2012 $275,400 155,200 150,700 979,900 25,580 1,950,000 749,700 $3,340,480 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings 2013 $180,000 219,200 270,700 1,059,000 25,580 2,586,000 1,000,000 $2,787,080 $49,350 169,700 450,900 2,099,000 571,530 $3,340,480 $74,620 200,800 190,900 1,770,000 550,760 $2,787,080 $ Change % Change $

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 Terminology

Authors: Michael P Griffin

1st Edition

1423229371, 9781423229377

More Books

Students also viewed these Accounting questions