CARLA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2018 AND 2017 Decembe

Question

CARLA COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2018 AND 2017

December 31

2018

2017

CARLA COMPANY
Comparative Balance Sheet
December 31, 2018 and 2017

December 31

Assets

2018

2017

Liabilities and Stockholders’ Equity

Presented below is the comparative balance sheet for Carla Company.

CARLA COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2018 AND 2017

December 31

2018

2017

Assets Cash $181,800 $275,600 Accounts receivable (net) 220,000 155,100 Short-term investments 268,600 149,700 Inventories 1,052,200 988,800 Prepaid expenses 25,000 25,000 Plant & equipment 2,581,200 1,965,400 Accumulated depreciation (1,007,300) (744,500) $3,321,500 $2,815,100 Liabilities and Stockholders’ Equity Accounts payable $49,800 $74,500 Accrued expenses 169,300 200,700 Bonds payable 446,700 189,200 Capital stock 2,081,600 1,798,800 Retained earnings 574,100 551,900 $3,321,500 $2,815,100

Explanation / Answer

Comparative balance sheet of Carla Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity is as prepared below:

CARLA COMPANY Comparative Balance Sheet December 31, 2018 and 2017 Dec-31 Dec-31 Assets 2018 2017 Cash $ 181,800 5.47% % $ 275,600 9.79% % Accounts receivable (net) 220,000 6.62% % 155,100 5.51% % Short-term investments 268,600 8.09% % 149,700 5.32% % Inventories 1,052,200 31.68% % 988,800 35.12% % Prepaid expenses 25,000 0.75% % 25,000 0.89% % Plant and equipment 2,581,200 77.71% % 1,965,400 69.82% % Accumulated depreciation -1,007,300 -30.33% % -744,500 -26.45% %      Total $ 3,321,500 100.00% % $ 2,815,100 100.00% % Liabilities and Stockholders’ Equity Accounts payable $ 49,800 1.50% % $ 74,500 2.65% % Accrued expenses 169,300 5.10% % 200,700 7.13% % Bonds payable 446,700 13.45% % 189,200 6.72% % Capital stock 2,081,600 62.67% % 1,798,800 63.90% % Retained earnings 574,100 17.28% % 551,900 19.60% %      Total $ 3,321,500 100.00% % $ 2,815,100 100.00% %

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