Condensed data taken from the ledger of St. Louis Company at December 31, for th
ID: 2470182 • Letter: C
Question
Condensed data taken from the ledger of St. Louis Company at December 31, for the current and preceding years, are as follows:
Year 2
Year 1
80,000
Prepare a comparative balance sheet, with horizontal analysis, for December 31, Year 2 and Year 1. Round percents to one decimal point. Enter negative values as negative numbers.
St. Louis Company
Comparative Balance Sheet
December 31, Year 2 and Year 1
1
Increase (Decrease)
Increase (Decrease)
2
Assets
Year 2
Year 1
Amount
Percent
3
Current assets
$160,000.00
$130,000.00
4
Property, plant, and equipment
450,000.00
400,000.00
5
Intangible assets
20,700.00
30,000.00
6
Total assets
$630,700.00
$560,000.00
7
Liabilities
8
Current liabilities
$70,000.00
$80,000.00
9
Long-term debt
210,000.00
250,000.00
10
Total liabilities
$280,000.00
$330,000.00
11
Stockholders' Equity
12
Common stock
225,000.00
150,000.00
13
Retained earnings
125,700.00
80,000.00
14
Total stockholders' equity
$350,700.00
$230,000.00
15
Total liabilities and stockholders'
$630,700.00
$560,000.00
Year 2
Year 1
Current assets $160,000 $130,000 Property, plant, and equipment 450,000 400,000 Intangible assets 20,700 30,000 Current liabilities 70,000 80,000 Long-term liabilities 210,000 250,000 Common stock 225,000 150,000 Retained earnings 125,70080,000
Prepare a comparative balance sheet, with horizontal analysis, for December 31, Year 2 and Year 1. Round percents to one decimal point. Enter negative values as negative numbers.
St. Louis Company
Comparative Balance Sheet
December 31, Year 2 and Year 1
1
Increase (Decrease)
Increase (Decrease)
2
Assets
Year 2
Year 1
Amount
Percent
3
Current assets
$160,000.00
$130,000.00
4
Property, plant, and equipment
450,000.00
400,000.00
5
Intangible assets
20,700.00
30,000.00
6
Total assets
$630,700.00
$560,000.00
7
Liabilities
8
Current liabilities
$70,000.00
$80,000.00
9
Long-term debt
210,000.00
250,000.00
10
Total liabilities
$280,000.00
$330,000.00
11
Stockholders' Equity
12
Common stock
225,000.00
150,000.00
13
Retained earnings
125,700.00
80,000.00
14
Total stockholders' equity
$350,700.00
$230,000.00
15
Total liabilities and stockholders'
$630,700.00
$560,000.00
Explanation / Answer
St. louis company
Comparitive balance sheet as on December31 year2 and year1
1 Increase(decrease) Increase(decrease) 2 Assets Year2 Year1 Amount Percentage 3 Current assets 160000 130000 30000 23.1% 4 Property,plant& equipment 450000 400000 50000 12.5% 5 Intangible assets 20700 30000 (9300) (31%) 6 Total assets 630700 560000 70700 12.625% 7 Liabilities 8 Current liabilities 70000 80000 (10000) (12.5%) 9 Long term debt 210000 250000 (40000) (16%) 10 Total liabilities 280000 330000 (50000) (15.15%) 11 Stockholders equity 12 Common stock 225000 150000 75000 50% 13 Retained earnings 125700 80000 45700 57.125% 14 Total stockholders equity 350700 230000 120700 52.48% 15 Total liabilities&stock holders equity 630700 560000 70700 12.625%.Related Questions
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