The comparative condensed balance sheets of Garcia Corporation are presented bel
ID: 2502811 • Letter: T
Question
The comparative condensed balance sheets of Garcia Corporation are presented below.GARCIA CORPORATION
Comparative Condensed Balance Sheets
December 31 2014 2013 Assets Current assets $ 75,960 $ 78,790 Property, plant, and equipment (net) 99,040 90,110 Intangibles 25,880 41,850 Total assets $200,880 $210,750 Liabilities and stockholders The comparative condensed balance sheets of Garcia Corporation are presented below.
GARCIA CORPORATION
Comparative Condensed Balance Sheets
December 31 2014 2013 Assets Current assets $ 75,960 $ 78,790 Property, plant, and equipment (net) 99,040 90,110 Intangibles 25,880 41,850 Total assets $200,880 $210,750 Liabilities and stockholders GARCIA CORPORATION
Comparative Condensed Balance Sheets
December 31 2014 2013 Exercise 14-3
Explanation / Answer
PARTICULARS
2014
2013
INCREASE/(DECREASE)
PERCENTAGE CHANGE FROM 2013
Assets
Current Assets
75,960
78,790
(2830)
-2830/78790 * 100
= (-3.59%)
Property, Plant & Equipment (net)
99,040
90,110
8930
8930/90110 * 100
= 9.91%
Intangibles
25,880
41,850
(15970)
-15970/41850 * 100
= (-38.16%)
Total assets
200,880
210,750
(9870)
-9870/210750 * 100
= (-4.68%)
Liabilities and Stockholders' Equity
Current Liabilities
40,310
49,320
(9010)
-9010/49320 * 100
= (-18.27%)
Long-term Liabilities
140,650
149,710
(9060)
-9060/149710 * 100
= (-6.05%)
Stockholders' Equity
19,920
11,720
8200
8200/11720 * 100
= 69.97%
Total liabilities and stockholders' equity
200,880
210,750
(9870)
-9870/210750 * 100
= (-4.68%)
PARTICULARS
2014
2013
INCREASE/(DECREASE)
PERCENTAGE CHANGE FROM 2013
Assets
Current Assets
75,960
78,790
(2830)
-2830/78790 * 100
= (-3.59%)
Property, Plant & Equipment (net)
99,040
90,110
8930
8930/90110 * 100
= 9.91%
Intangibles
25,880
41,850
(15970)
-15970/41850 * 100
= (-38.16%)
Total assets
200,880
210,750
(9870)
-9870/210750 * 100
= (-4.68%)
Liabilities and Stockholders' Equity
Current Liabilities
40,310
49,320
(9010)
-9010/49320 * 100
= (-18.27%)
Long-term Liabilities
140,650
149,710
(9060)
-9060/149710 * 100
= (-6.05%)
Stockholders' Equity
19,920
11,720
8200
8200/11720 * 100
= 69.97%
Total liabilities and stockholders' equity
200,880
210,750
(9870)
-9870/210750 * 100
= (-4.68%)