Question

In: Finance

Financial information for Kurzen Inc. is presented below.

Question Description

 

Financial information for Kurzen Inc. is presented below.

December 31, 2017 December 31, 2016 $100,000 330,000 Current assets $125,000 Plant assets (net) 396,000 91,000 Current liabilities Long-term liabilities Common stock, $1 par Retained earnings 133,000 161,000 136,000 70,000 95,000 115,000 150,000

 

Instructions

Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year.

Solutions

Expert Solution

Kurzen Inc.        
  December 31, 2017 December 31, 2016 $ Change Horizontal Analysis
Current assets 125000 100000 25000 25%
Plant assets (net) 396000 330000 66000 20%
Total Assets 521000 430000 91000 21%
         
Current liabilities 91000 70000 21000 30%
Long-term liabilities 133000 95000 38000 40%
Comon Stock, $1 par 161000 115000 46000 40%
Retained earnings 136000 150000 -14000 -9%
Total liabilities & equity 521000 430000 91000 21%
         
Horizontal analysis formula : (Current year - previous year) / previous year or $ Change / Previous year value  
Kurzen Inc.        
  December 31, 2017 December 31, 2016 $ Change Horizontal Analysis
Current assets 125000 100000 25000 25%
Plant assets (net) 396000 330000 66000 20%
Total Assets 521000 430000 91000 21%

Junaid answered 2 years ago
Next > < Previous

Related Solutions

Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in...
Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, and using a 365-day year, calculate Days payables outstanding (Payables conversion period). Round the answers to two decimal places Balance Sheet December 31, 2011 Cash and marketable securities $143,000 Accounts payable $278,000 Accounts receivable $354,000 Notes payable $87,000 Inventories $672,000 Accrued expenses $65,000 Prepaid expenses $12,500 Total current liabilities $430,000 Total current assets $1,181,500 Long-term debt $284,000 Gross fixed assets $1,675,000 Par...
Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in...
Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, and using a 365-day year, calculate cash conversion cycle Round the answers to two decimal places Balance Sheet December 31, 2013 Cash and marketable securities $112,000 Accounts payable $211,000 Accounts receivable $325,000 Notes payable $51,500 Inventories $426,000 Accrued expenses $50,100 Prepaid expenses $10,700 Total current liabilities $312,600 Total current assets $873,700 Long-term debt $225,000 Gross fixed assets $1,514,000 Par value and paid-in-capital...
Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in...
Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, and using a 365-day year, calculate cash conversion cycle Round the answers to two decimal places Balance Sheet December 31, 2011 Cash and marketable securities $143,000 Accounts payable $278,000 Accounts receivable $354,000 Notes payable $87,000 Inventories $672,000 Accrued expenses $65,000 Prepaid expenses $12,500 Total current liabilities $430,000 Total current assets $1,181,500 Long-term debt $284,000 Gross fixed assets $1,675,000 Par value and paid-in-capital...
Canadian Bacon Inc. financial statements are presented in the table below.             Based on the information in...
Canadian Bacon Inc. financial statements are presented in the table below.             Based on the information in the table, and using a 365-day year, calculate operating cycle. Round the answers to two decimal places Balance Sheet December 31, 2013 Cash and marketable securities $112,000 Accounts payable $211,000 Accounts receivable $325,000 Notes payable $51,500 Inventories $426,000 Accrued expenses $50,100 Prepaid expenses $10,700 Total current liabilities $312,600 Total current assets $873,700 Long-term debt $225,000 Gross fixed assets $1,514,000 Par value and paid-in-capital $117,000...
Selected financial statement information and additional data for Doble Siete Inc. is presented below. Prepare a...
Selected financial statement information and additional data for Doble Siete Inc. is presented below. Prepare a statement of cash flows for the year ending December 31, 2012                                                                                                                                 December 31                                                                                                                 2011                                       2012 Cash..........................................................     $42,000                                 $75,000 Accounts receivable (net)...........................       84,000                                 144,200 Inventory..................................................     168,000                                 201,600 Land..........................................................       58,800                                   16,000 Equipment.................................................     504,000                                789,600 TOTAL............................................ $856,800                           $1,226,400 Accumulated depreciation..........................     $84,000                              $115,600 Accounts payable.......................................       50,400                                   86,000 Notes payable - Short-term........................       67,200                                   29,400 Notes payable - Long-term.........................     168,000                                 302,400 Common stock...........................................     420,000                                 487,200 Retained earnings......................................       67,200                                205,800 TOTAL............................................ $856,800                            $1,226,400 Additional data for 2012: 1.    Net income was $240,200. 2.    Depreciation was $31,600. 3.    Land was sold at its original...
Canadian Bacon Inc. financial statements are presented in the table below.
a)      Canadian Bacon Inc. financial statements are presented in the table below.            Based on the information in the table, and using a 365-day year, calculate operating cycle.Round the answers to two decimal placesBalance Sheet December 31, 2014Cash and marketable securities$132,000Accounts payable$399,000Accounts receivable$311,000Notes payable$98,500Inventories$512,000Accrued expenses$89,300Prepaid expenses$11,300Total current liabilities$586,800Total current assets$966,300Long-term debt$799,400Gross fixed assets$2,104,000Par value and paid-in-capital$298,000Less: accumulated depreciation$398,000Retained Earnings$988,100Net fixed assets$1,706,000Common Equity1,286,100Total assets$2,672,300Total liabilities and owner’s equity$2,672,300Income Statement, Year of 2014Net sales (all credit)$4,276,600.00Less: Cost of goods sold$3,292,982.00Selling and administrative expenses$349,000.00Depreciation expense$148,000.00EBIT$486,618.00Interest expense$49,600.00Earnings...
Canadian Bacon Inc. financial statements are presented in the table below.
Canadian Bacon Inc. financial statements are presented in the table below.Based on the information in the table, calculate the firm’s accounts receivable turnover ratio.Round the answers to two decimal placesBalance Sheet December 31, 2010Cash and marketable securities          $102,000 Accounts payable $287,000Accounts receivable                           $299,000 Notes payable $61,200Inventories                                          $628,000 Accrued expenses                               $51,900Prepaid expenses                                $10,300 Total current liabilities $400,100Total current assets                             $1,039,300 Long-term debt                                   $415,000Gross fixed assets                               $1,502,000 Par value and paid-in-capital $376,000Less:...
Canadian Bacon Inc. financial statements are presented in the table below.
Canadian Bacon Inc. financial statements are presented in the table below.Based on the information in the table, and using a 365-day year, calculate Average Credit Sales per Day.Round the answers to two decimal placesBalance Sheet December 31, 2011Cash and marketable securities         $187,000 Accounts payable $217,000Accounts receivable                           $498,000 Notes payable $51,500Inventories                                          $799,000 Accrued expenses                               $58,300Prepaid expenses                               $19,300 Total current liabilities $326,800Total current assets                             $1,503,300   Long-term debt $215,400Gross fixed assets                               $1,978,000 Par value and paid-in-capital $128,000Less:...
Presented below is financial information of the Ivanhoe Corporation for 2020. Gain on the sale of...
Presented below is financial information of the Ivanhoe Corporation for 2020. Gain on the sale of investments 128,000 Net sales 36,000,000 Cost of goods sold 24,800,000 Loss on disposal of wholesale division 536,000 Interest revenue 84,000 Loss on operations of wholesale division 552,000 Selling and administrative expenses 6,560,000 Dividends declared on common stock 272,000 Write off of goodwill 624,000 Dividends declared on preferred stock 96,000 Effective tax rate on all items is 35% Ivanhoe Corporation decided to discontinue its wholesale...
Selected financial statement information and additional data for Ronis Co. is presented below. Use this information...
Selected financial statement information and additional data for Ronis Co. is presented below. Use this information to answer the next (3) questions concerning in preparing a statement of cash flows for the year ending December 31, 2017. 2016                                             2017 Cash...........................................................        $60,000                                    $122,000 Accounts receivable (net)................................          67,000                                      100,000 Inventory....................................................        210,000                                      198,000 Land...........................................................        350,000                                      300,000 Equipment...................................................        385,000                                      405,000 Accumulated depreciation...............................     (280,000)                                   (260,000) TOTAL............................................     $792,000                                    $865,000 Accounts payable..........................................          42,000                                         40,000 Bonds payable - long-term...............................       ...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT