Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information was retrieved from RAMOS COMPANY books: RAMOS COMPANY Comparative Balance Sheet December 31, 2012 and 2011 2012 2011 Assets Current assets $
The following information was retrieved from RAMOS COMPANY books:
RAMOS COMPANY
Comparative Balance Sheet
December 31, 2012 and 2011
2012 2011
Assets
Current assets $ 440 $280
Plant assets 675 520
Total assets $1,115 $800
Liabilities and stockholders' equity
Current liabilities $ 280 $120
Long-term debt 250 160
Common stock 325 320
Retained earnings 260 200
Total liabilities and stockholders' equity $1,115 $800
Instructions:
Using horizontal analysis, show the amount (Dollar) change for each balance sheet item using 2011
as a base year
The following information was retrieved from RAMOS COMPANY books:
RAMOS COMPANY
Comparative Balance Sheet
December 31, 2012 and 2011
2012 2011
Assets
Current assets $ 440 $280
Plant assets 675 520
Total assets $1,115 $800
Liabilities and stockholders' equity
Current liabilities $ 280 $120
Long-term debt 250 160
Common stock 325 320
Retained earnings 260 200
Total liabilities and stockholders' equity $1,115 $800
Instructions:
Using horizontal analysis, show the amount (Dollar) change for each balance sheet item using 2011
as a base year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started