FINANCIAL ACCOUNTING E8-5 E15-1 E15-2 E15-11

FINANCIAL ACCOUNTING E8-5 E15-1 E15-2 E15-11 - EXERCISE...

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EXERCISE 15-1 BLEVINS INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2009 2008 Amount Percentage Assets Current assets Plant assets (net) Total assets $125,000 396,000 $521,000 $100,000 330,000 $430,000 ( $25,000 ( 66,000 91,000 ( 25.0% ) ( 20.0% ) ( 21.2% ) Liabilities Current liabilities Long-term liabilities Total liabilities $ 91,000 133,000 224,000 $ 70,000 95,000 165,000 ( $21,000 ) ( 38,000 ) ( 59,000 ) ( 30.0% ) ( 40.0% ) ( 35.8% ) Stockholders’ Equity Common stock, $1 par Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity 161,000 136,000 297,000 $521,000 115,000 150,000 265,000 $430,000 ( 46,000 (15,000 ) (14,000 ) ( 32,000 ) ( $91,000 ) ( 40.0% ) (9.3%) ( 12.1% ) 21.2%
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EXERCISE 15-2 GALLUP CORPORATION Condensed Income Statements For the Years Ended December 31 2009 2008 Amount Percent Amount Percent Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses
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FINANCIAL ACCOUNTING E8-5 E15-1 E15-2 E15-11 - EXERCISE...

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