Question
In: Accounting
Presented below is the comparative balance sheet for Windsor Company. Windsor Company Comparative Balance Sheet As...
Presented below is the comparative balance sheet for Windsor Company.
|
Windsor Company |
||||||
|---|---|---|---|---|---|---|
|
December 31 |
||||||
|
2021 |
2022 |
|||||
| Assets | ||||||
|
Cash |
$178,300 | $276,000 | ||||
|
Accounts receivable (net) |
219,900 | 154,300 | ||||
|
Short-term investments |
269,400 | 149,700 | ||||
|
Inventories |
1,069,600 | 982,200 | ||||
|
Prepaid expenses |
24,900 | 24,900 | ||||
|
Plant & equipment |
2,604,600 | 1,968,800 | ||||
|
Accumulated depreciation |
(990,000) | (752,100) | ||||
| $3,376,700 | $2,803,800 | |||||
| Liabilities and Stockholders’ Equity | ||||||
|
Accounts payable |
$49,900 | $74,700 | ||||
|
Accrued expenses |
170,100 | 198,600 | ||||
|
Bonds payable |
446,600 | 188,900 | ||||
|
Capital stock |
2,109,800 | 1,777,900 | ||||
|
Retained earnings |
600,300 | 563,700 | ||||
| $3,376,700 | $2,803,800 | |||||
Prepare a comparative balance sheet of Windsor Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity. (Round percentages to 2 decimal places, e.g. 2.25%.)
|
WINDSOR COMPANY |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
December 31 |
||||||||||||
|
Assets |
2021 |
2020 |
||||||||||
|
Cash |
$178,300 | % | $276,000 | % | ||||||||
|
Accounts receivable (net) |
219,900 | % | 154,300 | % | ||||||||
|
Short-term investments |
269,400 | % | 149,700 | % | ||||||||
|
Inventories |
1,069,600 | % | 982,200 | % | ||||||||
|
Prepaid expenses |
24,900 | % | 24,900 | % | ||||||||
|
Plant and equipment |
2,604,600 | % | 1,968,800 | % | ||||||||
|
Accumulated depreciation |
(990,000 | ) | % | (752,100 | ) | % | ||||||
|
Total |
$3,376,700 | % | $2,803,800 |
enter percentages rounded to 2 decimal places |
% | |||||||
|
Liabilities and Stockholders’ Equity |
||||||||||||
|
Accounts payable |
$49,900 | % | $74,700 | % | ||||||||
|
Accrued expenses |
170,100 | % | 198,600 | % | ||||||||
|
Bonds payable |
446,600 | % | 188,900 | % | ||||||||
|
Capital stock |
2,109,800 | % | 1,777,900 | % | ||||||||
|
Retained earnings |
600,300 | % | 563,700 | % | ||||||||
|
Total |
$3,376,700 |
enter percentages rounded to 2 decimal places |
% | $2,803,800 | % | |||||||
eTextbook and Media
Prepare a comparative balance sheet of Windsor Company showing the dollar change and the percent change for each item. (If there is a decrease from 2020 to 2021, then enter the amounts and percentages with either a negative sign, i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25).)
|
WINDSOR COMPANY |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
December 31 |
Increase or (Decrease) |
|||||||||||
|
Assets |
2021 |
2020 |
$ Change |
% Change |
||||||||
|
Cash |
$178,300 | $276,000 | % | |||||||||
|
Accounts receivable (net) |
219,900 | 154,300 | % | |||||||||
|
Investments |
269,400 | 149,700 | % | |||||||||
|
Inventories |
1,069,600 | 982,200 | % | |||||||||
|
Prepaid expenses |
24,900 | 24,900 | % | |||||||||
|
Plant and equipment |
2,604,600 | 1,968,800 | % | |||||||||
|
Accumulated depreciation |
(990,000 | ) | (752,100 | ) | % | |||||||
|
Total |
$3,376,700 | $2,803,800 | enter percentages | % | ||||||||
|
Liabilities and Stockholders’ Equity |
||||||||||||
|
Accounts payable |
$49,900 | $74,700 | % | |||||||||
|
Accrued expenses |
170,100 | 198,600 | % | |||||||||
|
Bonds payable |
446,600 | 188,900 | % | |||||||||
|
Capital stock |
2,109,800 | 1,777,900 | % | |||||||||
|
Retained earnings |
600,300 | 563,700 | % | |||||||||
|
Total |
$3,376,700 | $2,803,800 | enter percentages | % | ||||||||
Solutions
Expert Solution
Answer :
1. Comparative balance sheet of Windsor Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity :
| December 31, 2021 | % December 31, 2021 | December 31, 2020 | % December 31, 2020 | |
| Assets | ||||
| Cash | 178,300 | 5.28% | 276,000 | 9.84% |
| Accounts receivable (net) | 219,900 | 6.51% | 154,300 | 5.50% |
| Investments | 269,400 | 7.98% | 149,700 | 5.34% |
| Inventories | 1,069,600 | 31.67% | 982,200 | 35.03% |
| Prepaid expenses | 24,900 | 0.74% | 24,900 | 0.89% |
| Plant and equipment | 2,604,600 | 77.13% | 1,968,800 | 70.22% |
| Less : Accumulated depreciation | (990,000) | (29.32%) | (752,100) | (26.82%) |
| Total | 3,376,700 | 100% | 2,803,800 | 100% |
| Liabilities and Stockholders’ Equity | ||||
| Accounts payable | 49,900 | 1.48% | 74,700 | 2.66% |
| Accrued expenses | 170,100 | 5.04% | 198,600 | 7.08% |
| Bonds payable | 446,600 | 13.22% | 188,900 | 6.74% |
| Capital stock | 2,109,800 | 62.48% | 1,777,900 | 63.41% |
| Retained earnings | 600,300 | 17.78% | 563,700 | 20.10% |
| Total | 3,376,700 | 100% | 2,803,800 | 100% |
Percentage of assets column are calculated taking total assets as base and Percentage of liability column are calculated taking Liabilities and Stockholders’ Equity as base.
2. Comparative balance sheet of Windsor Company showing the dollar change and the percent change for each item :
| December 31, 2021 | December 31, 2020 | Dollar change | % change | |
| Assets | ||||
| Cash | 178,300 | 276,000 | (97,700) | (35.40%) |
| Accounts receivable (net) | 219,900 | 154,300 | 65,600 | 42.51% |
| Investments | 269,400 | 149,700 | 119,700 | 79.96% |
| Inventories | 1,069,600 | 982,200 | 87,400 | 8.90% |
| Prepaid expenses | 24,900 | 24,900 | 0 | 0 |
| Plant and equipment | 2,604,600 | 1,968,800 | 635,800 | 32.29% |
| Less : Accumulated depreciation | (990,000) | (752,100) | (237,900) | (31.63%) |
| Total | 3,376,700 | 2,803,800 | 572,900 | 20.43% |
| Liabilities and Stockholders’ Equity | ||||
| Accounts payable | 49,900 | 74,700 | (24,800) | (33.20%) |
| Accrued expenses | 170,100 | 198,600 | (28,500) | (14.35%) |
| Bonds payable | 446,600 | 188,900 | 257,700 | 136.42% |
| Capital stock | 2,109,800 | 1,777,900 | 331,900 | 18.67% |
| Retained earnings | 600,300 | 563,700 | 36,600 | 6.49% |
| Total | 3,376,700 | 2,803,800 | 572,900 | 20.43% |
Dollar change = Amount of December 31, 2021 - Amount of December 31, 2020
% change = Dollar change / Amount of December 31, 2020
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2020
2019
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