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Presented below are comparative balance sheets for the Gilmour Company

Presented below are comparative balance sheets for the Gilmour Company
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Solution Guide / Answer Key:

ACCOUNTING

P24-4 Horizontal and Vertical Analysis

MS WORD (Answer Key) + MS EXCEL (Completed Template)

Presented below are comparative balance sheets for the Gilmour Company:

GILMOUR COMPANY
Comparative Balance Sheet
December 31, 2011 and 2010
2011 2010
Assets
Cash $180,000 $275,000
Accounts receivable (net) 220,000 155,000
Short-term investments 270,000 150,000
Inventories 1,060,000 980,000
Prepaid expense 25,000 25,000
Fixed assets 2,585,000 1,950,000
Accumulated depreciation (1,000,000) (750,000)
$3,340,000 $2,785,000

Liabilities and Stockholders' Equity
Accounts payable $50,000 $75,000
Accrued expenses 170,000 200,000
Bonds payable 450,000 190,000
Capital stock 2,100,000 1,770,000
Retained earnings 570,000 550,000
$3,340,000 $2,785,000

Instructions: (Round to two decimal places.)
(a) Prepare a comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total liabilities and stockholders' equity.
(b) Prepare a comparative balance sheet of Gilmour Company showing the dollar change and the percentage change for each item.
(c) Of what value is the additional information provided in part (a)?
(d) Of what value is the additional information provided in part (b)?

 

FILE: MS WORD & MS EXCEL

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