Presented below is a balance sheet for the last two years: 2016 2015 Cash $118,0
ID: 2419088 • Letter: P
Question
Presented below is a balance sheet for the last two years:
2016
2015
Cash
$118,000
$115,000
Accounts receivable
$98,000
$ 77,000
Short-term investments
$60,000
$65,000
Current assets
$276,000
$257,000
Equipment, net of depreciation
$220,000
$205,000
Land
$75,000
$75,000
Total assets
$571,000
$537,000
Accounts payable
$72,000
$96,000
Wages payable
$4,000
$3,000
Short-term revolving bank loan
$85,000
$50,000
Current liabilities
$161,000
$149,000
Long-term debt
$128,000
$132,000
Total liabilities
$289,000
$281,000
Common stock
$100,000
$100,000
Prepare a horizontal analysis for the first 3 items only. Display percentages to 2 decimal places (.654 = 65%).
2016
2015
Cash
$118,000
$115,000
Accounts receivable
$98,000
$ 77,000
Short-term investments
$60,000
$65,000
Current assets
$276,000
$257,000
Equipment, net of depreciation
$220,000
$205,000
Land
$75,000
$75,000
Total assets
$571,000
$537,000
Accounts payable
$72,000
$96,000
Wages payable
$4,000
$3,000
Short-term revolving bank loan
$85,000
$50,000
Current liabilities
$161,000
$149,000
Long-term debt
$128,000
$132,000
Total liabilities
$289,000
$281,000
Common stock
$100,000
$100,000
Explanation / Answer
*increase/Decrease = Amount in 2015 - Amount in 2016
**%increase/Decrease = Increase or (Decrease) amount/ Amount in 2015
Particulars Increase/(Decrease) in $* %increase/(Decrease)** Cash 3000 2.61 Accounts receivable 21000 21.43 Short term investment (5000) (7.69)Related Questions
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