70.2K

Verified Solution

Link Copied!

Question text

Below is the balance sheet for Joshua Company.

JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017

	2017		2016
Current assets:
Cash and cash equivalents	$ 204		$ 133
Accounts receivable	267		157
Inventories	131		264
Prepaid insurance	12		42
Total current assets	614		596
Long term assets:
Property, plant, and equipment	245		260
Less accumulated depreciation	- 140		- 125
Property, plant, and equipment, net	105		135
Total assets	$ 719		$ 731
Current liabilities:
Accounts payable	$ 97		$ 83
Wages payable	20		17
Current portion of long term notes	132		33
Total current liabilities	249		133
Long term liabilities:
Notes payable	98		198
Total liabilities	347		331
Stockholders' equity:
Common stock	103		117
Retained earnings	269		283
Total Stockholders' equity	372		400
Total liabilities and stockholders' equity	$ 718		$ 731

Using common-size analysis, what percentage would be attributable to the 2017 accounts receivable of Joshua Company?

Select one:

A. 37.1 percent

B. 35.4 percent

C. 13.5 percent

D. 14.5 percent

Question 24

Not yet answered

Marked out of 3.00

Flag question

Question text

Below is the balance sheet for Joshua Company.

JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017

	2017		2016
Current assets:
Cash and cash equivalents	$ 204		$ 133
Accounts receivable	267		157
Inventories	131		264
Prepaid insurance	12		42
Total current assets	614		596
Long term assets:
Property, plant, and equipment	245		260
Less accumulated depreciation	- 140		- 125
Property, plant, and equipment, net	105		135
Total assets	$ 719		$ 731
Current liabilities:
Accounts payable	$ 97		$ 83
Wages payable	20		17
Current portion of long term notes	132		33
Total current liabilities	249		133
Long term liabilities:
Notes payable	98		198
Total liabilities	347		331
Stockholders' equity:
Common stock	103		117
Retained earnings	269		283
Total Stockholders' equity	372		400
Total liabilities and stockholders' equity	$ 718		$ 731

Using common-size analysis, what percentage would be attributable to the 2016 inventories of Joshua Company?

Select one:

A. 31.3 percent

B. 36.1 percent

C. 34.5 percent

D. 21.5 percent

r Financial Analysis (Appendc A) Assignmentb ESTON 23 Not yot asweredMarked out of 00 Bay qustion Below Is the balance sheet for joshua Company JOSHUA COMPANY Comparative Balance Sheets December 31, 2016 and 2017 2017 2015 Current 555cts Cash and cash cqulvalents Accounts receivable Inventories Prepald Insurance Total current assets Long term assets Property, plant, and equipment Less accumulated depreciation Property, plant, and cquipment, nct Totnl asctS s 204 267 131 s 133 157 264 42 596 614 245 260 125 currooribitties Accounts payablc Wages payabie Curront portion of tong term notes 397 S 83 20 17 249 ongtom inbnie Nates 20yabie Tom:abities Stackhalaers equity Rotaince eonng Total Stockhoiders odulty

Answer & Explanation Solved by verified expert

See Answer