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    Quiz1 Problem Solution

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    Vee Ya
    The document contains comparative income statements and balance sheets for ABC Company for the years ended December 31, 2022 and 2021. It shows that the company's revenue and expenses increased by 20-80% in 2022 resulting in a 5.33% increase in net profit. Total assets grew by 25% to $250,000 in 2022 driven by increases in current assets, property, and land. Liabilities also rose by 36.36% while stockholder's equity increased by 11.11% in 2022.

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    Quiz1 Problem Solution

    Uploaded by

    Vee Ya
    21 views2 pages
    The document contains comparative income statements and balance sheets for ABC Company for the years ended December 31, 2022 and 2021. It shows that the company's revenue and expenses increased by 20-80% in 2022 resulting in a 5.33% increase in net profit. Total assets grew by 25% to $250,000 in 2022 driven by increases in current assets, property, and land. Liabilities also rose by 36.36% while stockholder's equity increased by 11.11% in 2022.

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    Financial Management

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    The document contains comparative income statements and balance sheets for ABC Company for the years ended December 31, 2022 and 2021. It shows that the company's revenue and expenses increased by 20-80% in 2022 resulting in a 5.33% increase in net profit. Total assets grew by 25% to $250,000 in 2022 driven by increases in current assets, property, and land. Liabilities also rose by 36.36% while stockholder's equity increased by 11.11% in 2022.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    21 views2 pages

    Quiz1 Problem Solution

    Uploaded by

    Vee Ya
    The document contains comparative income statements and balance sheets for ABC Company for the years ended December 31, 2022 and 2021. It shows that the company's revenue and expenses increased by 20-80% in 2022 resulting in a 5.33% increase in net profit. Total assets grew by 25% to $250,000 in 2022 driven by increases in current assets, property, and land. Liabilities also rose by 36.36% while stockholder's equity increased by 11.11% in 2022.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    ABC Company

    Comparative Income Statement


    For the year ended December 31

    HORIZONTAL ANALYSIS Percentage


    2022 2021 Peso Change Change

    Revenue 120,000.00 100,000.00 20,000.00 20.00%


    Cost of Sales 60,000.00 50,000.00 10,000.00 20.00%
    Gross Profit 60,000.00 50,000.00 10,000.00 20.00%

    Rent Expense 5,500.00 5,000.00 500.00 10.00%


    Depreciation Expense 3,600.00 2,500.00 1,100.00 44.00%
    Salaries Expense 5,400.00 3,000.00 2,400.00 80.00%
    Utilities Expense 2,500.00 1,500.00 1,000.00 66.67%
    Net profit before interest and tax 43,000.00 38,000.00 5,000.00 13.16%

    Interest Expense 5,400.00 3,000.00 2,400.00 80.00%


    Income Tax 6,000.00 5,000.00 1,000.00 20.00%
    Net profit after interest and tax 31,600.00 30,000.00 1,600.00 5.33%

    ABC Company
    Comparative Income Statement
    For the year ended December 31

    VERTICAL ANALYSIS 2022 2021 2022 2021

    Revenue 120,000.00 100,000.00 100.00% 100.00%


    Cost of Sales 60,000.00 50,000.00 50.00% 50.00%
    Gross Profit 60,000.00 50,000.00 50.00% 50.00%

    Rent Expense 5,500.00 5,000.00 4.58% 5.00%


    Depreciation Expense 3,600.00 2,500.00 3.00% 2.50%
    Salaries Expense 5,400.00 3,000.00 4.50% 3.00%
    Utilities Expense 2,500.00 1,500.00 2.08% 1.50%
    Net profit before interest and tax 43,000.00 38,000.00 35.83% 38.00%

    Interest Expense 5,400.00 3,000.00 4.50% 3.00%


    Income Tax 6,000.00 5,000.00 5.00% 5.00%
    Net profit after interest and tax 31,600.00 30,000.00 26.33% 30.00%

    ABC Company
    Comparative Balance Sheet
    For the year ended December 31

    HORIZONTAL ANALYSIS 2022 2021 Percentage


    Peso Change Change
    Assets
    Current Assets 110,000.00 90,000.00 20,000.00 22.22%
    Cash 30,000.00 20,000.00 10,000.00 50.00%
    Accounts Receivable 40,000.00 35,000.00 5,000.00 14.29%
    Inventory
    Non-current assets
    Property Plant and Equipment 50,000.00 40,000.00 10,000.00 25.00%
    Land 20,000.00 15,000.00 5,000.00 33.33%
    Total Assets 250,000.00 200,000.00 50,000.00 25.00%

    Liabilities
    Current Liabilities
    Accounts Payable 75,000.00 60,000.00 15,000.00 25.00%
    Unearned Revenue 25,000.00 10,000.00 15,000.00 150.00%
    Non-current Liabilities
    Bank Loan 50,000.00 40,000.00 10,000.00 25.00%
    Total Liabilities 150,000.00 110,000.00 40,000.00 36.36%

    Stockholders' Equity
    Share capital 80,000.00 75,000.00 5,000.00 6.67%
    Retained Earnings 20,000.00 15,000.00 5,000.00 33.33%
    Total Equity 100,000.00 90,000.00 10,000.00 11.11%

    ABC Company
    Comparative Balance Sheet
    For the year ended December 31

    VERTICAL ANALYSIS 2022 2021 2022 2021


    Assets
    Current Assets 110,000.00 90,000.00 44.00% 45.00%
    Cash 30,000.00 20,000.00 12.00% 10.00%
    Accounts Receivable 40,000.00 35,000.00 16.00% 17.50%
    Inventory
    Non-current assets
    Property Plant and Equipment 50,000.00 40,000.00 20.00% 20.00%
    Land 20,000.00 15,000.00 8.00% 7.50%
    Total Assets 250,000.00 200,000.00 100.00% 100.00%

    Liabilities
    Current Liabilities
    Accounts Payable 75,000.00 60,000.00 30.00% 30.00%
    Unearned Revenue 25,000.00 10,000.00 10.00% 5.00%
    Non-current Liabilities
    Bank Loan 50,000.00 40,000.00 20.00% 20.00%
    Total Liabilities 150,000.00 110,000.00 60.00% 55.00%

    Stockholders' Equity
    Share capital 80,000.00 75,000.00 32.00% 37.50%
    Retained Earnings 20,000.00 15,000.00 8.00% 7.50%
    Total Equity 100,000.00 90,000.00 40.00% 45.00%

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