Wileyplus Assignment Week 3 Assignment

Brief Exercise 13-4 Your answer is correct. Using these data from the comparaTve balance sheet of Rosalez Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negaTve, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.) Increase or (Decrease) Dec. 31, 2012 Dec. 31, 2011 Amount Percentage Accounts receivable $ 520,200 $ 354,000 $ % Inventory $ 828,700 $ 648,800 $ % ±otal assets $3,157,000 $2,733,600 $ % SoluTon CLOSE Brief Exercise 13-4 Horizontal analysis: $166,200 = 47% $179,900 = 28% $423,400 = 15% $354,000 $648,800 $2,733,600 Brief Exercise 13-5 Your answer is correct. Using these data from the comparaTve balance sheet of Rosalez Company, perform verTcal analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2012 Dec. 31, 2011 Amount Percentage Amount Percentage Accounts receivable $ 558,300 % $ 444,500 % Inventory $ 734,400 % $ 603,800 % ±otal assets $3,107,500 % $2,755,700 % SoluTon CLOSE Brief Exercise 13-5 VerTcal analysis: $558,300 = 18.0 % $444,500 = 16.1% $3,107,500 $2,755,700 166,200 47 179,900 28 423,400 15 17.9 16.1 23.6 21.9 100 100

Unformatted text preview: 98. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2.) Date Account/Description Debit Credit July 1 Cash 2450000 Discount on bonds payable 50000 Bonds payable 2500000 Dec. 31 Bond interest expense 102500 Bond interest payable 100000 Discount on bonds payable 2500 Correct. Date Account/Description Debit Credit July 1 Cash ($2,500,000 98%) 2,450,000 Discount on bonds payable 50,000 Bonds payable 2,500,000 Dec. 31 Bond interest expense 102,500 Bonds interest payable ($2,500,000 8% 1/2) 100,000 Discount on bond payable ($50,000 20) 2,500 Show balance sheet presentation for each bond issue at December 31, 2011. (Enter all amounts as positive amounts and subtract where necessary.) Premium Long-term Liabilities Bonds payable, due 2021 $ 2,500,000 Add: Premium on bonds payable 95,000 $ 2,595,000 Discount Long-term Liabilities Bonds payable, due 2021 $ 2,500,000 Less: Discount on bonds payable 47,500 2,452,500...
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