KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total...
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KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 2020 $ 60,508 0 114,119 $ 40,498 1,000 103,564 2019 $ 54,137 4,500 61,547 $ 174,627 $ 145,062 $ 120,184 $ 25,496 $ 21,614 $ 21,032 69,000 69,000 51,000 8,625 71,506 8,625 45,823 5,667 42,485 $ 174,627 $ 145,062 $ 120,184 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Note: Round your percentage answers to 2 decimal places. KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 Assets 2021 2020 2019 Current assets Long-term investments Plant assets, net Total assets % 111.76 % 74.80 % 100.00 % 0.00 22.22 100.00 100.00 % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00% KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 2020 $ 60,508 0 114,119 $ 40,498 1,000 103,564 2019 $ 54,137 4,500 61,547 $ 174,627 $ 145,062 $ 120,184 $ 25,496 $ 21,614 $ 21,032 69,000 69,000 51,000 8,625 71,506 8,625 45,823 5,667 42,485 $ 174,627 $ 145,062 $ 120,184 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Note: Round your percentage answers to 2 decimal places. KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 Assets 2021 2020 2019 Current assets Long-term investments Plant assets, net Total assets % 111.76 % 74.80 % 100.00 % 0.00 22.22 100.00 100.00 % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00%
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Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
Posted Date:
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