Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The balance sheet data of Randolph Company for two recent years appears below: Assets: Year 2 Year 1 Current assets $445 $280 680 520 $1,125

image text in transcribedimage text in transcribedimage text in transcribed

The balance sheet data of Randolph Company for two recent years appears below: Assets: Year 2 Year 1 Current assets $445 $280 680 520 $1,125 $300 $120 Labies and stockholders' equity Current abates Long term debe Common check Bened earnings Total ties and stockholders'uty 5285 255 325 160 320 200 200 $300 $1,125 Required: 2. Using horizontal analysis show the percentage change for each balance sheet musing Year 1 as a base Year. If required, round percentage to one domacet required, use the mission to indicate decreases in amounts and percent (negative value) Randolph Company Comotive Balance Sheet For the Years Ended December 31. Year 2 nd Year 1 Increase Show SOR 8 9. R T Y F H K I B N M Randolph Company Comparative Balance Sheet For the Years Ended December 31, Year 2 and Year 1 Increased Increase/ Assets Year 2 Year 1 Decrease Decrease Amount Percentage Current assets $445 $280 9 plant assets 680 520 $1,125 $800 96 Total assets Liabilities & stockholders equity Current abilities $285 $120 96 Long-term debt 255 160 Common stock 325 320 Retained earnings 260 200 Totalities and stockholders' equity $1.125 $800 1. Using vertical analysis, prepare a comparative balance sheet. If required, round your answers to one decimal place. Randolph Company Comparative Balance Sheet For the Years Ended December 31, Year 2 and Year 1 Assets Year 2 Year 2 Year 1 Year 1 Amount Percent Amount Percent $445 $200 90 & 7 8 R b. Using vertical analysis, prepare a comparative balance sheet. If required, round your answers to one decimal place. Randolph Company Comparative Balance Sheet For the Years Ended December 31 Year 2 and Year 1 Year 2 Year 2 Year 1 Year 1 Assets Amount Percent Amount Percent Currents 5445 680 520 $1.125 % $800 % Total sets Lubies and steholders outy Current babes Long-term debit Commonsta $285 $120 160 320 395 ii Radaris 250 200 Totallables and stockholders equity $1.125 2005 R 7 F H K N M

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