Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 2. prepare a horizontal analysis of sports unlimit

2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the...

70.2K

Verified Solution

Question

Accounting

image
2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year 2021 2020 Increase (Decrease) Amount % Assets Current assets: $ 163,150 59,150 61.750 15,600 108,000 46,200 110,400 7,800 0 81.900 165.750 152.750 (50,050) 650,000 218,400 145,2001 (36,000) 600,000 $ $ Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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: Common stock Retained earnings Total liabilities and stockholders' equity $ 55,250 15,600 11.700 86,400 7.800 11,400 213,200 193,200 234,000 120,250 650,000 234,000 67,200 600,000 $ $

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!
Become a Member

Other questions asked by students