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Quiz - Horizontal Analysis

The document is a quiz sheet for a student named Kathrina I. Katigbak, featuring horizontal analysis of ABC Merchandising's comparative income statements and statements of financial position for the years 2014 and 2013. It details key financial figures such as net sales, gross profit, net income, and changes in assets and liabilities. The document also includes a note requesting the quiz sheet to be sent to a specified Gmail account.

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Miller Rilley
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12 views

Quiz - Horizontal Analysis

The document is a quiz sheet for a student named Kathrina I. Katigbak, featuring horizontal analysis of ABC Merchandising's comparative income statements and statements of financial position for the years 2014 and 2013. It details key financial figures such as net sales, gross profit, net income, and changes in assets and liabilities. The document also includes a note requesting the quiz sheet to be sent to a specified Gmail account.

Uploaded by

Miller Rilley
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Unified Schools of the Archdiocese of Lipa

OUR LADY OF PEACE ACADEMy


Ubi Cor Et MensConveniunt
Tuy, Batangas
Email: olpa1@yahoo.com
Contact Nos.: (043)417-7332 / +63977-806-0108

QUIZ SHEET: HORIZONTAL ANALYSIS

Name: Kathrina I. Katigbak Date: 12/02/20


Section: 12-ABM

ABC Merchandising
Comparative Income Statements

2014 2013 Change in Percentage


Amount Change
Net Sales 1,000,000 700,000 300,000 42.86%
Less: Cost of Goods Sold 689,500 444,500 245,000 55.12%
Gross Profit 310,500 255,500 55,000 21.53%
Less: Operating Expense 120,000 75,000 45,000 60.00%
Earnings before Interest and Taxes 190,000 180,500 9,500 5.26%
Less: Interest Expense 2,500 2,500 - -
Earnings before Tax 188,000 178,000 10,000 5.62%
Income Tax Expense 60,160 56,960 3,200 5.62%
Net Income 127,840 121,040 6,800 5.62%

ABC Merchandising
Comparative Statements of Financial Position

Assets 2014 2013 Change in Percentage


Amount
Current Assets
Cash 75,000 64,000 11,000 17.19%
Marketable Securities 30,000 30,000 - -
Accounts Receivable 45,000 50,000 (10,000) (20%)
Merchandise Inventory 41,000 30,500 10,500 34.43%
Prepaid Expenses 5,000 5,000 - -
Total Current Assets 196,000 179,500 16,500 9.19%
Non-Current Assets
Property, Plant, and equipment 350,000 320,000 30,000 9.38%
Total Assets 546,000 499,500 46,500 9.31%
Liabilities and Owner’s Equity
Current Liabilities
Accounts Payable 29,000 20,000 9,000 45.00%
Salaries Payable 25,000 16,000 9,000 56.25%
Utilities Payable 12,000 7,000 4,000 57.14%
Taxes Payable 30,000 30,000 - -
Total Current Liabilities 96,000 73,000 23,000 31.51%
Notes Payable (due in 2016) 200,000 200,000 - -
Juan Cabrera’s Capital 250,000 226,500 23,500 10.38%
Total Liabilities and Owner’s Equity 546,000 499,500 46,500 9.31%

NOTE: KINDLY SEND THIS QUIZ SHEET ON MY GMAIL ACCOUNT

marasigannezelle530@gmail.com

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