Question

In: Accounting

Prepare a comparative balance sheet of Headland Company showing the percent each item is of the...

Prepare a comparative balance sheet of Headland 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%.)

HEADLAND COMPANY
Comparative Balance Sheet
December 31, 2021 and 2020

December 31

Assets

2021

2020

Cash

 $178,200

enter percentages rounded to 2 decimal places

 % $275,600

enter percentages rounded to 2 decimal places

 %

Accounts receivable (net)

 219,200

enter percentages rounded to 2 decimal places

 % 156,500

enter percentages rounded to 2 decimal places

 %

Short-term investments

 272,400

enter percentages rounded to 2 decimal places

 % 149,600

enter percentages rounded to 2 decimal places

 %

Inventories

 1,070,300

enter percentages rounded to 2 decimal places

 % 984,000

enter percentages rounded to 2 decimal places

 %

Prepaid expenses

 24,900

enter percentages rounded to 2 decimal places

 % 24,900

enter percentages rounded to 2 decimal places

 %

Plant and equipment

 2,602,300

enter percentages rounded to 2 decimal places

 % 1,938,700

enter percentages rounded to 2 decimal places

 %

Accumulated depreciation

 (997,800 )

enter percentages rounded to 2 decimal places

 % (749,600 )

enter percentages rounded to 2 decimal places

 %

     Total

 $3,369,500

enter percentages rounded to 2 decimal places

 % $2,779,700

enter percentages rounded to 2 decimal places

 %

Liabilities and Stockholders’ Equity

Accounts payable

 $50,500

enter percentages rounded to 2 decimal places

 % $74,300

enter percentages rounded to 2 decimal places

 %

Accrued expenses

 169,000

enter percentages rounded to 2 decimal places

 % 199,600

enter percentages rounded to 2 decimal places

 %

Bonds payable

 446,600

enter percentages rounded to 2 decimal places

 % 189,100

enter percentages rounded to 2 decimal places

 %

Capital stock

 2,117,100

enter percentages rounded to 2 decimal places

 % 1,782,700

enter percentages rounded to 2 decimal places

 %

Retained earnings

 586,300

enter percentages rounded to 2 decimal places

 % 534,000

enter percentages rounded to 2 decimal places

 %

     Total

 $3,369,500

enter percentages rounded to 2 decimal places

 % $2,779,700

enter percentages rounded to 2 decimal places

 %

eTextbook and Media

Prepare a comparative balance sheet of Headland 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).)

HEADLAND COMPANY
Comparative Balance Sheet
December 31, 2021 and 2020

December 31

Increase or (Decrease)

Assets

2021

2020

$ Change

% Change

Cash

 $178,200 $275,600

$enter a dollar amount

enter percentages

 %

Accounts receivable (net)

 219,200 156,500

enter a dollar amount

enter percentages

 %

Investments

 272,400 149,600

enter a dollar amount

enter percentages

 %

Inventories

 1,070,300 984,000

enter a dollar amount

enter percentages

 %

Prepaid expenses

 24,900 24,900

enter a dollar amount

enter percentages

 %

Plant and equipment

 2,602,300 1,938,700

enter a dollar amount

enter percentages

 %

Accumulated depreciation

 (997,800 ) (749,600 )

enter a dollar amount

 enter percentages %

     Total

 $3,369,500 $2,779,700

$enter a dollar amount

 enter percentages %

Liabilities and Stockholders’ Equity

Accounts payable

 $50,500 $74,300

$enter a dollar amount

enter percentages

 %

Accrued expenses

 169,000 199,600

enter a dollar amount

enter percentages

 %

Bonds payable

 446,600 189,100

enter a dollar amount

enter percentages

 %

Capital stock

 2,117,100 1,782,700

enter a dollar amount

enter percentages

 %

Retained earnings

 586,300 534,000

enter a dollar amount

 enter percentages %

     Total

 $3,369,500 $2,779,700

$enter a dollar amount

 enter percentages %

Solutions

Expert Solution

[1]

HEADLAND COMPANY

Comparative Balance Sheet

December 31, 2021 and 2020

Assets

Dec 31, 2021

Dec 31, 2020

Cash

$178,200

5.3%

$275,600

9.91%

Accounts receivable (net)

$219,200

6.5%

$156,500

5.63%

Short-term investments

$272,400

8.1%

$149,600

5.38%

Inventories

$1,070,300

31.8%

$984,000

35.40%

Prepaid expenses

$24,900

0.7%

$24,900

0.90%

Plant and equipment

$2,602,300

77.2%

$1,938,700

69.74%

Accumulated depreciation

($997,800)

-29.6%

($749,600)

-26.97%

     Total

$3,369,500

100.0%

$2,779,700

100.00%

Liabilities and Stockholders’ Equity

Accounts payable

$50,500

1.5%

$74,300

2.67%

Accrued expenses

$169,000

5.0%

$199,600

7.18%

Bonds payable

$446,600

13.3%

$189,100

6.80%

Capital stock

$2,117,100

62.8%

$1,782,700

64.13%

Retained earnings

$586,300

17.4%

$534,000

19.21%

     Total

$3,369,500

100.0%

$2,779,700

100.00%

[2]

Comparative Balance Sheet

December 31, 2021 and 2020

Assets

Dec 31, 2021

Dec 31, 2020

Increase (Decrease)

% Change

Cash

$178,200

$275,600

($97,400)

-35.34%

Accounts receivable (net)

$219,200

$156,500

$62,700

40.06%

Short-term investments

$272,400

$149,600

$122,800

82.09%

Inventories

$1,070,300

$984,000

$86,300

8.77%

Prepaid expenses

$24,900

$24,900

$0

0.00%

Plant and equipment

$2,602,300

$1,938,700

$663,600

34.23%

Accumulated depreciation

($997,800)

($749,600)

($248,200)

33.11%

     Total

$3,369,500

$2,779,700

$589,800

21.22%

Liabilities and Stockholders’ Equity

Accounts payable

$50,500

$74,300

($23,800)

-32.03%

Accrued expenses

$169,000

$199,600

($30,600)

-15.33%

Bonds payable

$446,600

$189,100

$257,500

136.17%

Capital stock

$2,117,100

$1,782,700

$334,400

18.76%

Retained earnings

$586,300

$534,000

$52,300

9.79%

     Total

$3,369,500

$2,779,700

$589,800

21.22%

ekkarill92 answered 2 years ago
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