Chapter 17

Chapter 17 - 17-1FINANCIAL STATEMENT...

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Unformatted text preview: 17-1FINANCIAL STATEMENT ANALYSISChapter1717-2Internal UsersExternal UsersFinancial statement analysis helps users make better decisions.ManagersShareholdersLendersSuppliersPurpose of Analysis17-3Resultsin standardized,meaningfulsubtotals.Itemswith certaincharacteristics aregroupedtogether.ClassifiedFinancialStatementsFinancial Statements Are Designed for Analysis17-4A Classified Balance SheetCurrent assets:Cash12,000$ Notes receivable2,000Accounts receivable60,000Inventory80,000Prepaid expenses3,000Total current assets157,000Plant and equipment:Land40,000$ Building121,000$ Less: Accumulated depreciation(10,000)111,000Equipment and Fixtures46,000Less: Accumulated depreciation(27,000)19,000Total plant and equipment170,000Other assets:Patents170,000Total assets497,000$ Matrix, Inc.Balance SheetDecember 31, 2007Asset Section of the Balance SheetAsset Section of the Balance Sheet17-5A Classified Balance SheetCurrent liabilitiesNotes payable10,000$ Accounts payable62,000Income taxes payable16,000...
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Chapter 17 - 17-1FINANCIAL STATEMENT...

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