5 Required Information [The following information applies to the questions displayed below.] Part 1 of...
60.1K
Verified Solution
Link Copied!
Question
Accounting
5 Required Information [The following information applies to the questions displayed below.] Part 1 of 2 The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. . . eBook Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets. Express each amount as a percentage of total assets for that year. (Amounts to be deducted should be Indicated by a minus sign. Round your percentage answers to 1 decimal place.) . Print SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 Amount % Amount % $ 103,500 $ 70.400 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 48.800 44.550 7.200 32.000 71.200 3.800 0 54.900 117.450 108,200 (30,600) 450.000 141.800 102.000 (20,800) 400.000 $ $ Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: $ E $ 48.800 30.150 7.200 12.150 3.600 10.000 138. 150 127.800 Common stock Retained earnings Total liabilities and stockholders' equity 144.000 118.350 144.000 68,000 400.000 $ 450.000 $
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
