Question
In: Accounting
E13.3 (LO 2), AP Here is financial information for Glitter Inc. Prepare horizontal analysis. December 31,...
E13.3 (LO 2), AP Here is financial information for Glitter Inc.
Prepare horizontal analysis.
| December 31, 2022 | December 31, 2021 | |||
| Current assets | $106,000 | $ 90,000 | ||
| Plant assets (net) | 400,000 | 350,000 | ||
| Current liabilities | 99,000 | 65,000 | ||
| Long-term liabilities | 122,000 | 90,000 | ||
| Common stock, $1 par | 130,000 | 115,000 | ||
| Retained earnings | 155,000 | 170,000 |
Instructions
Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $124,600...
Here is financial information for Glitter Inc.
December 31, 2020
December 31, 2019
Current assets
$124,600
$100,000
Plant assets (net)
394,800
329,000
Current liabilities
85,994
73,000
Long-term liabilities
128,828
86,000
Common stock, $1 par
166,026
118,000
Retained earnings
138,552
152,000
Prepare a schedule showing a horizontal analysis for 2020, using
2019 as the base year. (Enter negative amounts and
percentages using either a negative sign preceding the number e.g.
-45, -45% or parentheses e.g. (45), (45%). Round percentages to 1...
Prepare a horizontal analysis of both the balance sheet and income statement. Prepare a horizontal analysis...
Prepare a horizontal analysis of both the balance sheet and
income statement.
Prepare a horizontal analysis of the balance sheet. (Negative
answers should be indicated by a minus sign. Round your answers to
1 decimal place. (i.e., .234 should be entered as 23.4).)
ADAMS COMPANY
Horizontal Analysis of Balance
Sheets
2019
2018
Percentage Change
Assets
Current assets
Cash
$16,700
$12,100
%
Marketable securities
20,200
7,400
Accounts receivable (net)
54,900
47,600
Inventories
135,200
144,500
Prepaid items
25,000
10,500
Total current assets...
Prepare a horizontal analysis of both the balance sheet and income statement. Prepare a horizontal analysis...
Prepare a horizontal analysis of both the balance sheet and
income statement.
Prepare a horizontal analysis of the balance sheet. (Negative
answers should be indicated by a minus sign. Round your answers to
1 decimal place. (i.e., .234 should be entered as 23.4).)
BAIRD COMPANY
Horizontal Analysis of Balance
Sheets
2019
2018
Percentage Change
Assets
Current assets
Cash
$17,600
$12,200
%
Marketable securities
21,000
6,200
Accounts receivable (net)
54,700
46,800
Inventories
136,500
143,300
Prepaid items
26,500
11,800
Total current assets...
Prepare a horizontal analysis of both the balance sheet and income statement. Prepare a horizontal analysis...
Prepare a horizontal analysis of both the balance sheet and
income statement.
Prepare a horizontal analysis of the balance sheet. (Negative
answers should be indicated by a minus sign. Round your answers to
1 decimal place. (i.e., .234 should be entered as 23.4).)
THORNTON COMPANY
Horizontal Analysis of Balance
Sheets
2019
2018
Percentage Change
Assets
Current assets
Cash
$16,700
$12,200
%
Marketable securities
21,300
7,500
Accounts receivable (net)
54,100
46,500
Inventories
136,100
144,600
Prepaid items
26,300
10,400
Total current assets...
E13-6 Prepare production and direct materials budgets by quarters for 6 months. (LO 2), AP On...
E13-6
Prepare production and direct materials budgets by quarters
for 6 months.
(LO 2), AP
On January 1, 2017, the Hardin Company budget committee has
reached agreement on the following data for the 6 months ending
June 30, 2017.
Sales units: First quarter 5,000; second quarter 6,000; third
quarter 7,000.
Ending raw materials inventory: 40% of the next quarter's
production requirements.
Ending finished goods inventory: 25% of the next quarter's
expected sales units.
Third-quarter production: 7,200 units.
The ending raw...
The following information was taken from the financial statements of Tolbert Inc. for December 31 of...
The following information was taken from the financial
statements of Tolbert Inc. for December 31 of the current fiscal
year:
Common stock, $40 par value (no change during the year)
$9,600,000
Preferred $5 stock, $100 par (no change during the year)
3,000,000
The net income was $822,000 and the declared dividends on the
common stock were $60,000 for the current year. The market price of
the common stock is $21.00 per share.
For the common stock, determine (a) the earnings...
The following information was taken from the financial statements of Tolbert Inc. for December 31 of...
The following information was taken from the financial
statements of Tolbert Inc. for December 31 of the current fiscal
year:
Common stock, $15 par value (no change during the year)
$3,600,000
Preferred $4 stock, $200 par (no change during the year)
6,000,000
The net income was $792,000 and the declared dividends on the
common stock were $60,000 for the current year. The market price of
the common stock is $19.60 per share.
For the common stock, determine (a) the earnings...
Prepare a bank reconciliation dated December 31, 2020, for Nittany Inc. based on the following information....
Prepare a bank reconciliation dated
December 31, 2020, for Nittany Inc. based on the following
information.
∙
Balance per bank statement is $1,000.
∙
Balance per books is $900.
∙
The December bank statement indicated a service charge of
$30.
∙
Cheque #1169 for $400 made out to a supplier was mailed, but not
yet received by the bank.
. Cheque #1183 for $270 to a supplier was incorrectly
posted by Nittany as $720 in the books.
∙
The bank...
Garlington Technologies Inc.’s 2018 financial statements are shown here: Balance Sheet as of December 31, 2018...
Garlington Technologies Inc.’s 2018 financial statements are
shown here: Balance Sheet as of December 31, 2018 Cash $ 180,000
Accounts payable $ 360,000 Receivables 360,000 Notes payable
156,000 Inventories 720,000 Line of credit 0 Total current assets
$1,260,000 Accruals 180,000 Fixed assets 1,440,000 Total current
liabilities $ 696,000 Common stock 1,800,000 Retained earnings
204,000 Total assets $2,700,000 Total liabilities and equity
$2,700,000 Income Statement for December 31, 2018 Sales $3,600,000
Operating costs 3,279,720 EBIT $ 320,280 Interest 18,280 Pre-tax
earnings...
The following information was taken from the financial statements of Monarch Resources Inc. for December 31...
The following information was taken from the financial
statements of Monarch Resources Inc. for December 31 of the current
year:
Common stock, $40 par value (no change during the year)
$6,400,000
Preferred $10 stock, $200 par (no change during the year)
4,000,000
The net income was $616,000, and the declared dividends on the
common stock were $166,400 for the current year. The market price
of the common stock is $40 per share.
For the common stock, determine (a) the earnings...
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