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Acc 557 chapter 14(E14 3 E14 4 E14 13 P14 6A) 2015 version
- 1. Acc 557 chapter 14(E14 3 E14 4 E14 13 P14 6A) Link : http://uopexam.com/product/acc-557-chapter-14e14-3-e14-4-e14-13-p14-6a/ Sample content Exercises 14-3, 14-4, and 14-13, located in WileyPLUS o Problem 14-6A, located in WileyPLUS EXERCISE 14-3
- 2. (a) GARCIA CORPORATION Condensed Balance Sheets December 31 2014 2013 Increase (Decrease) Percentage Change from 2013 Assets Current assets Property, plant & equipment (net) Intangibles Total assets $ 76,000 100,000 24,000
- 3. $200,000 $ 80,000 90,000 40,000 $210,000 $ (4,000) (10,000) (16,000) $(10,000) (5.0%) (11.1%) (40.0%) (4.8%) GARCIA CORPORATION Condensed Balance Sheets (Continued) December 31 2014 2013 Increase (Decrease)
- 4. Percentage Change from 2013 Liabilities and stock- holders’ equity Current liabilities Long-term liabilities Stockholders’ equity Total liabilities and stockholders’ equity $ 40,000 140,000 20,000 $200,000 $ 48,000 150,000
- 5. 12,000 $210,000 $ (8,000) (10,000) 8,000) $(10,000) (16.7%) (6.7%) (66.7%) (4.8%) (b) GARCIA CORPORATION Condensed Balance Sheet December 31, 2014 Amount Percent Assets Current assets Property, plant, and equipment (net) Intangibles Total assets
- 6. Liabilities and stockholders’ equity Current liabilities Long-term liabilities Stockholders’ equity Total liabilities and stockholders’ equity $ 76,000 100,000 24,000 $200,000 $ 40,000 140,000 20,000 $200,000 38% 50% 12% 100% 20% 70%
- 7. 10% 100% Top of Form Exercise 14-3 Your answer is correct. The comparative condensed balance sheets of Garcia Corporation are presented below. GARCIA CORPORATION Comparative Condensed Balance Sheets December 31 2014 2013 Assets Current assets $ 76,000 $ 80,000 Property, plant, and equipment (net) 100,000 90,000 Intangibles
- 8. 24,000 40,000 Total assets $200,000 $210,000 Liabilities and stockholders’ equity Current liabilities $ 40,000 $ 48,000 Long-term liabilities 140,000 150,000 Stockholders’ equity 20,000 12,000 Total liabilities and stockholders’ equity $200,000 $210,000 (a) Prepare a horizontal analysis of the balance sheet data for Garcia Corporation using 2013 as a base. (If amount and percentage are a decrease show the
- 9. numbers as negative, e.g. -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, e.g. 12.3%.) GARCIA CORPORATION Condensed Balance Sheets December 31 2014 2013 Increase (Decrease) Percentage Change from 2013 Assets Current Assets $76,000 $80,000 $ % Property, Plant & Equipment (net) 100,000 90,000
- 10. % Intangibles 24,000 40,000 % Total assets $200,000 $210,000 $ % Liabilities and Stockholders’ Equity Current Liabilities $40,000 $48,000 $ % Long-term Liabilities 140,000 150,000 %
- 11. Stockholders’ Equity 20,000 12,000 % Total liabilities and stockholders’ equity $200,000 $210,000 $ % (b) Prepare a vertical analysis of the balance sheet data for Garcia Corporation in columnar form for 2014. (Round percentages to 0 decimal places, e.g. 12%.) GARCIA CORPORATION Condensed Balance Sheet December 31, 2014 Amount Percent Assets Current Assets $76,000 %
- 12. Property, Plant, and Equipment (net) 100,000 % Intangibles 24,000 % Total assets $200,000 % Liabilities and Stockholders’ Equity Current Liabilities $40,000 % Long-term Liabilities 140,000 % Stockholders’ Equity 20,000 %