Determine if the ratio analysis was appropriately performed

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Reference no: EM132460404

Problem a. Determine if the ratio analysis was appropriately performed and completed. Review the explanations of account fluctuations provided by the auditors. Describe any problems you identify.

 

3/31/2002

12/310021

$ 41140P

% 0041111*

 

CuniM Assets

 

 

 

 

 

Cash: Storefront

$125,498.76

$135,135.15

(8,63639)

  • .39%

a

Cash: Corporate Accounts

293,728.03

210,019.06

84,708.97

40.33%

a

Cash: Payrotl

123,432.43

124,726.15

1293.72)

-0.24%

?

Account Receivable

122,849.12

193,976.31

(70,127.19)

-3615%

2

Office Supplies

2,379.00

2,604.00

775.00

29.76%

?

Cooking Supplies

4,777.00

4,713.00

1.06400

22.58%

?

Inventory: ingredients

25,190.66

25,58049

610.57

2.39%

?

Inventory: Cake Boxes and Cupcake Cups

1,423.05

1,190.10

1,23295

103.60%

?

Inventory Beverages

3,340.30

3,26080

1,079.50

33.11%

?

Total Oared Assets

$702,618.35

$701,204.66

 

 

 

Long-Term Assets

 

 

 

 

 

Equipment

150,180.00

150,18040

0.00

0.00%

?

Accumulated Depreciation: Equipment

(82,455.00)

(78,828.00)

3,627.00

4.60%

?

Plant & ProPerl7

330,000.00

330,000.00

0.00

0.00%

?

Accumulated Depredation: Plant & Provo

(82,500.00)

(79,200.00)

3,300.00

4.17%

 

Land

125,030.00

125,000.00

0.00

 

 

Total long-Tom assets

440,225.00

5447,152.00

 

 

 

Total Assets

$1,142,843.35

51,1411,356.66

 .

 

 

uthnitin

 

 

 

.  .

 

Accounts Payable

$25,712.40

38,556.70

(12,84430)

-33.31%

3

Wage Taxes Payable

0.00

0.00

0.00

0.00%

?

Corporate Income Tax Payable

21,241.78

38,125.96

(16,873.18)

44.27%

-4

Dividends Payable

.0.00

13,125.00

(13,125.00)

  • 100.00%

 

Mortgage Payable

290,673.81

291,262.13

(1,588.32)

4.54%

ü 

Notes Payable: Vehicles

22,555.53

24,87831

(2,322.78)

-9.34%

?

Total Ilabilleks

360,189.12

5406,94810

 

 

 

StoOtholders' EritiltY

 

 

 

 

 

CoMmon Stock, Par value $140;

 

 

 

 

 

Authorized 1,030,000; issued and outstanding 50,000 shares

50,000.00

50,000.00

0.00

0.00%

?

Additional Paid In Capital

120,075.91

120,075.91

0.00

0.03%

?

Retained Eamirgs

612,578.32

571,332.65

41,245.67

7.22%

?

Total Stockholders' Equity

782,654.23

$741,400.56

 

 

 

Total Liabilities and Stockholders' Equity

$1142,843.35

$1,148,356.66

 

 

 

Reference no: EM132460404

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