Question

In: Finance

For the Antle, Inc. company, Total Current Assets was $ 228,000 for year ended 12//31//'95. Cash...

For the Antle, Inc. company, Total Current Assets was $ 228,000 for year ended 12//31//'95. Cash had a balance of $ 37,000 and A//R had a balance of $ 86,000. Merchandise Inventory was the only other Short-Term Asset. Land had a year-end balance of $ 148,000, while Buildings had a balance of $ 316,000. Land and Buildings are the only Fixed Assets, and Total Assets had a balance of $ 538,000 at year end. Short-Term Notes Payable had a 12//31//'95 balance of $ 43,000, while A//P had a balance of $ 91,000 and Other Short-Term Debt (Ex: Accrued Liabilities) totaled $ 27,000. The balance in Total Liabilities was $ 201,000 at year end, with Long Term Notes Payable being the only Long Term Debt., No Par Common Stock had a balance of $ 135,000 as of 12//31//'95. Common Stock is the only type of stock outstanding. Based upon the aforementioned information, please provide a Balance Sheet for Antle, Inc.as of 12//31//'95.

Please provide Vertical Analysis for your Balance Sheet.

Solutions

Expert Solution

Antle, Inc.
Balance Sheet as on 31-Dec-1995
Particulars $ Totals Percent
Cash 37000 6.88%
Accounts receivable 86000 15.98%
Inventory 105000 19.52%
Total current assets 228000 42.38%
Land 148000 27.51%
Building 316000
Less: Accumulated Depreciation 154000 162000 30.11%
Fixed assets 310000 57.62%
Total Assets 538000 100%
Accounts Payable 91000 16.91%
Accrued liabilities (ST Debt) 27000 5.02%
Short Term Notes payable 43000 8.00%
Total current liabilities 161000 29.93%
Long Term Notes payable 40000 7.43%
Total liabilities 201000 37.36%
Capital stock 135000 25.09%
Retained Earnings 202000 37.55%
Total equity 337000 62.64%
Total liabilities and equity         5,38,000 100%

Related Solutions

Balance Sheet For the Year Ended December 31 Assets Current assets: Cash $7,170 Accounts payable 7,500...
Balance Sheet For the Year Ended December 31 Assets Current assets: Cash $7,170 Accounts payable 7,500 Supplies 2,590 Prepaid insurance 800 Land 24,000 Total current assets $42,060 Property, plant, and equipment: Building $43,700 Equipment 29,250 Total property, plant, and equipment 72,950 Total assets $131,510 Liabilities Current liabilities: Accounts receivable $10,000 Accum. depr.-building 12,525 Accum. depr.-equipment 7,340 Net income 11,500 Total liabilities $41,365 Owner's Equity Wages payable $1,500 Mark Brock, capital 88,645 Total owner's equity 90,145 Total liabilities and owner's equity...
Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net...
Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net               18,000 Inventory               50,000 Total current assets         1,568,000 Equipment               90,000 Goodwill               20,000 Total assets $1,678,000 Liabilities and shareholders' equity Shareholders' equity: Common stock, 20,000 shares outstanding, $1 par $20,000 Additional paid-in capital            280,000 Retained earnings         1,378,000 Total shareholders' equity         1,678,000 Total liabilities and shareholders' equity $1,678,000 Note that all additional paid-in capital (APIC) sub accounts (e.g., APIC-options...
2020/12/31 2019/12/31 Current Assets: Cash $6,100 $7,100 Accounts Receivable 61,500 51,000 Inventory 44,800 63,900 Total Current...
2020/12/31 2019/12/31 Current Assets: Cash $6,100 $7,100 Accounts Receivable 61,500 51,000 Inventory 44,800 63,900 Total Current Assets 112,400 122,000 Property, Plant, and Equipment 155,200 129,900 Less: Accumulated Depreciation (35,200) (24,800) Land 80,600 67,700 Total Assets $313,000 $294,800 Current Liabilities: Accounts Payable 45,800 39,800 Wages Payable 12,000 9,900 Long Term Notes Payable 68,100 78,800 Total Liabilities 125,900 128,500 Stockholders' Equity: Common Stock 130,000 130,000 Retained Earnings 57,100 36,300 Total Stockholders' Equity 187,100 166,300 Total Liabilities & Stockholders' Equity $313,000 $294,800 Sales...
Balance Sheet Assets: 12/31/19 Current Assets: Cash $3,000.00 Accounts Receivable 1,250.00 Prepaid Expenses $100.00 Total Current...
Balance Sheet Assets: 12/31/19 Current Assets: Cash $3,000.00 Accounts Receivable 1,250.00 Prepaid Expenses $100.00 Total Current Assets $4,350.00 Non-Current Assets: Property, Plant, and Equipment Land $10,000.00 Buildings 25,000.00 Equipment 15,000.00 Accumulated Depreciation $(12,000.00) Total Property, Plant, and Equipment $38,000.00 Total Assets $42,350.00 Liabilities: Current Liabilities Accounts Payable $100.00 Accrued Expense 150.00 Salary and Wages Payable - Notes Payable - Unearned Revenue $1,500.00 Total Liabilities $1,750.00 Shareholder's Equity Common Stock - $1 par (See Note Below) $15,000.00 Retained Earnings $25,600.00 Total...
Dec. 31, Year 2 Dec. 31, Year 1 ASSETS Current assets: Cash and cash equivalents $...
Dec. 31, Year 2 Dec. 31, Year 1 ASSETS Current assets: Cash and cash equivalents $ 92,069   $ 72,634 Accounts receivables, net 55,947 75,492 Inventories 50,784 53,129 Prepaid expenses    12,112    13,057 Total current assets 210,912 214,312 Equipment 145,444 134,312 Less: Accumulated depreciation (50,515) (36,689) Total assets $305,841 $311,935 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 25,466 $ 34,879 Accrued liabilities     40,574     40,722 Total current liabilities     66,040     75,601 Long-term debt     10,422    ...
For the year ended Dec 31, 2018, Abeer Clothing Company has total assets of $87,631,181, ROA...
For the year ended Dec 31, 2018, Abeer Clothing Company has total assets of $87,631,181, ROA of 11.67 percent, ROE of 21.19 percent, and a profit margin of 11.59 percent. What are the company’s net income and net sales? Calculate the firm’s debt-to-equity ratio
Labels: Current assets Current liabilities December 31, 2018 Expenses For the Year Ended December 31, 2018...
Labels: Current assets Current liabilities December 31, 2018 Expenses For the Year Ended December 31, 2018 Property, plant, and equipment Revenues Amount Descriptions: Book value-building Book value-equipment Change in retained earnings Net income Net loss Retained earnings, December 31, 2018 Retained earnings, January 1, 2018 Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders’ equity Total property, plant, and equipment Total revenues Total stockholders’ equity CHART OF ACCOUNTS Lamp Light Company General Ledger ASSETS 11 Cash...
ARID Company Income Statement FYE 12/31 Assets 2015 2014 Current assets Cash $       45,000 $       23,000...
ARID Company Income Statement FYE 12/31 Assets 2015 2014 Current assets Cash $       45,000 $       23,000 Short-term investments 36,000 18,000 Accounts receivable 94,000 89,000 Inventory 82,000 68,000 Total current assets 257,000 198,000 Plant assets (net) 550,000 560,000 Total assets $807,000 $758,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable 140,000 120,000 Income taxes payable 35,000 38,000 Total current liabilities 175,000 158,000 Long-term liabilities Bonds payable 160,000 170,000 Total liabilities 335,000 328,000 Stockholders' equity Common stock ($5 par) 195,000 185,000 Retained...
balance sheet 12/31/2014 12/31/2015 Assets Current Assets Cash in bank $     57,000 $    65,000 Accounts receivable         75,00
balance sheet 12/31/2014 12/31/2015 Assets Current Assets Cash in bank $     57,000 $    65,000 Accounts receivable         75,000        82,000 Inventory         66,000        75,000 Prepaid expenses           6,000          8,000 Total Current Assets $   204,000 $   230,000 Fixed Assets Machinery & equipment $     25,200 $    18,000 Total Fixed Assets (net of depreciation) $     25,200 $    18,000 TOTAL Assets $   229,200 $   248,000 Liabilities and Equity Current Liabilities Accounts payable $     89,000 $    90,000 Total Current Liabilities $     89,000 $    90,000 Long-term Debt Bank loans payable $     62,000 $    50,000 Total Long-term Debt $     62,000 $    50,000 Total Liabilities $   151,000 $   140,000 Owners' Equity         78,200...
The Balance Sheet of the Illini as of 12/31/20X0: Assets Current Assets: Cash 1,500,000 Accounts receivable,...
The Balance Sheet of the Illini as of 12/31/20X0: Assets Current Assets: Cash 1,500,000 Accounts receivable, net 18,000 Inventory 50,000 Total current assets 1,568,000 Equipment 90,000 Goodwill 20,000 Total assets $1,678,000 Liabilities and shareholders' equity Shareholders' equity: Common stock, 20,000 shares outstanding, $1 par 20,000 Additional paid-in capital 280,000 Retained earnings 1,378,000 Total shareholders' equity 1,678,000 Total liabilities and shareholders' equity 1,678,000 Note that all additional paid-in capital (APIC) sub accounts (e.g., APIC-options and APIC-treasury stock), if any, are tracked...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT