Prepare a comparative balance sheet of Whispering Company showing the dollar cha
ID: 2512307 • Letter: P
Question
Prepare a comparative balance sheet of Whispering Company showing the dollar change and the percent change for each item. (If there is a decrease from 2017 to 2018, then enter the amounts and percentages with either a negative sign, i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25))
WHISPERING COMPANY
Comparative Balance Sheet
December 31, 2018 and 2017
December 31
Increase or (Decrease)
Assets
2018
2017
$ Change
% Change
Liabilities and Stockholders’ Equity
WHISPERING COMPANY
Comparative Balance Sheet
December 31, 2018 and 2017
December 31
Increase or (Decrease)
Assets
2018
2017
$ Change
% Change
Cash $178,200 $275,600 $ % Accounts receivable (net) 219,200 156,500 % Investments 272,400 149,600 % Inventories 1,070,300 984,000 % Prepaid expenses 24,900 24,900 % Plant and equipment 2,602,300 1,938,700 % Accumulated depreciation (997,800 ) (749,600 ) % Total $3,369,500 $2,779,700 $ %Liabilities and Stockholders’ Equity
Accounts payable $50,500 $74,300 $ % Accrued expenses 169,000 199,600 % Bonds payable 446,600 189,100 % Capital stock 2,117,100 1,782,700 % Retained earnings 586,300 534,000 % Total $3,369,500 $2,779,700 $ %Explanation / Answer
WHISPERING COMPANY
Comparative Balance Sheet
December 31, 2018 and 2017
December 31
Increase or (Decrease)
Assets
2018
2017
$ Change
% Change
Cash
$178,200
$275,600
($97,400)
(35.34)
%
Accounts receivable (net)
219,200
156,500
$62,700
40.06
%
Investments
272,400
149,600
$122,800
82.09
%
Inventories
1,070,300
984,000
$86,300
8.77
%
Prepaid expenses
24,900
24,900
-
-
%
Plant and equipment
2,602,300
1,938,700
$663,600
34.23
%
Accumulated depreciation
(997,800
)
(749,600
)
($248,200)
33.11
%
Total
$3,369,500
$2,779,700
$589,800
21.22
%
Liabilities and Stockholders’ Equity
Accounts payable
$50,500
$74,300
($23,800)
(32.03)
%
Accrued expenses
169,000
199,600
($30,600)
(15.33)
%
Bonds payable
446,600
189,100
$257,500
136.17
%
Capital stock
2,117,100
1,782,700
$334,400
18.76
%
Retained earnings
586,300
534,000
$52,300
9.79
%
Total
$3,369,500
$2,779,700
$589,800
21.22
%
WHISPERING COMPANY
Comparative Balance Sheet
December 31, 2018 and 2017
December 31
Increase or (Decrease)
Assets
2018
2017
$ Change
% Change
Cash
$178,200
$275,600
($97,400)
(35.34)
%
Accounts receivable (net)
219,200
156,500
$62,700
40.06
%
Investments
272,400
149,600
$122,800
82.09
%
Inventories
1,070,300
984,000
$86,300
8.77
%
Prepaid expenses
24,900
24,900
-
-
%
Plant and equipment
2,602,300
1,938,700
$663,600
34.23
%
Accumulated depreciation
(997,800
)
(749,600
)
($248,200)
33.11
%
Total
$3,369,500
$2,779,700
$589,800
21.22
%
Liabilities and Stockholders’ Equity
Accounts payable
$50,500
$74,300
($23,800)
(32.03)
%
Accrued expenses
169,000
199,600
($30,600)
(15.33)
%
Bonds payable
446,600
189,100
$257,500
136.17
%
Capital stock
2,117,100
1,782,700
$334,400
18.76
%
Retained earnings
586,300
534,000
$52,300
9.79
%
Total
$3,369,500
$2,779,700
$589,800
21.22
%