Presented below is the comparative balance sheet for Bonita Company BONITA COMPA
ID: 2532795 • Letter: P
Question
Presented below is the comparative balance sheet for Bonita Company BONITA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2018 AND 2017 December 31 2018 2017 Assets Cash Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant & equipment Accumulated depreciation $181,800 219,300 267,800 1,067,900 24,900 2,571,400 $277,500 156,400 149,100 971,700 24,900 1,962,400 (1,001,800) (746,800) $3,331,300 $2,795,200 Liabilities and Stockholders' Equi Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $74,800 198,300 190,700 1,792,000 539,400 $3,331,300 $2,795,200 $49,500 170,000 447,200 2,117,900 546,700Explanation / Answer
BONITA COMPANY
COMPARITIVE BALANCE SHEET
December 31,2018 and 2017
ASSETS
2018
2017
$Change
% Change
Cash
181,800.00
277,500.00
(95,700.00)
(34.49%)
Account Receivable
219,300.00
156,400.00
62,900.00
40.22%
Investments
267,800.00
149,100.00
118,700.00
79.61%
Inventories
1,067,900.00
971,700.00
96,200.00
9.90%
Prepaid Expenses
24,900.00
24,900.00
-
0.00%
Plant and Equipment
2,571,400.00
1,962,400.00
609,000.00
31.03%
Accumulated Depreciation
(1,001,800.00)
(746,800.00)
(255,000.00)
34.15%
TOTAL
3,331,300.00
2,795,200.00
536,100.00
19.18%
LIABILITIES AND STOCKHOLDERS EQUITY
Accounts payable
49,500.00
74,800.00
(25,300.00)
(33.82%)
Accrued Expenses
170,000.00
198,300.00
(28,300.00)
(14.27%)
Bond Payable
447,200.00
190,700.00
256,500.00
134.50%
Capital Stock
2,117,900.00
1,792,000.00
325,900.00
18.19%
Retained Earnings
546,700.00
539,400.00
7,300.00
1.35%
TOTAL
3,331,300.00
2,795,200.00
536,100.00
19.18%
BONITA COMPANY
COMPARITIVE BALANCE SHEET
December 31,2018 and 2017
ASSETS
2018
2017
$Change
% Change
Cash
181,800.00
277,500.00
(95,700.00)
(34.49%)
Account Receivable
219,300.00
156,400.00
62,900.00
40.22%
Investments
267,800.00
149,100.00
118,700.00
79.61%
Inventories
1,067,900.00
971,700.00
96,200.00
9.90%
Prepaid Expenses
24,900.00
24,900.00
-
0.00%
Plant and Equipment
2,571,400.00
1,962,400.00
609,000.00
31.03%
Accumulated Depreciation
(1,001,800.00)
(746,800.00)
(255,000.00)
34.15%
TOTAL
3,331,300.00
2,795,200.00
536,100.00
19.18%
LIABILITIES AND STOCKHOLDERS EQUITY
Accounts payable
49,500.00
74,800.00
(25,300.00)
(33.82%)
Accrued Expenses
170,000.00
198,300.00
(28,300.00)
(14.27%)
Bond Payable
447,200.00
190,700.00
256,500.00
134.50%
Capital Stock
2,117,900.00
1,792,000.00
325,900.00
18.19%
Retained Earnings
546,700.00
539,400.00
7,300.00
1.35%
TOTAL
3,331,300.00
2,795,200.00
536,100.00
19.18%