Problem 17-3 The comparative balance sheet of Ramos Company appears below: (a) ramose company

Problem 17-3

The comparative balance sheet of Ramos Company appears below:

(a) ramose company

comparative balance sheet

Dec 31,2012 and 2011

assets 2012 2011

current assets \$440 \$280

plant assets 675 520

total assets 1115 800

liabilities and stockholders equity

current liabilities 280 120

long term debt 250 160

common stock 325 320

retained earnings 260 200

total liabilities and stockholders equity 1115 800

required: A. using horizontal analysis, show the percentage change for each balance sheet item using 2011 as a base year. If required, round your answers to one decimal place. If required, use the minus sign to indicate decreases in amounts and percent’s negative values.

( this is what I got so far)

Ramos Company

Comparative Balance Sheet

December 31, 2012 and 2011

Assets Dec. 31, 2012 Dec. 31, 2011 Increase/Decrease Increase/Decrease

Amount Percentage

current assets 440 280

plant assets 675 520

total assets 1115 800

liabilities &Stockholders equity

current liabilities 280 120

long term debt 250 160

common stock 325 320

retained earnings 260 200

total liabilities and stockholders equity 1115 800

b. Using vertical analysis, prepare a common size comparative balance sheet. If required, round your answers to one decimal place.

Ramos Company

Comparative Balance Sheet

December 31, 2012 and 2011

Assets 2012 Amount 2012 Percent 2011 Amount 2011 Percent

Current assets \$440 39.5%

Plant assets 675 60.5%

Total assets \$1,115 100.0%

Liabilities and stockholders’ equity

Current liabilities \$280 25.1%

Long-term debt 250 22.4%

Common stock 325 29.2%

Retained earnings 260 23.3%

Total liabilities and stockholders’ equity \$1,115 100.0%

Problem 18-1

The Zoe Corporation has the following information for the month of March.

purchases 92000

materials inventory march 1 6000

materials inventory march 31 8000

direct labor 25000

work in process march 1 22000

work in process march 31 18500

finished goods inventory march 1 21000

finished goods inventory march 31 25000

sales 257000

a. Prepare a schedule of cost of goods manufactured.

Zoe Corporation

Statement of Cost of Goods Manufactured

For Month Ended March 31, 20xx

__________________ _____________

direct materials:

___________________ _______________________

___________________ _______________________

___________________ _______________________

___________________ _______________________

Cost of materials placed in production ____________________

_____________________ ____________________

_____________________ ____________________

Total manufacturing costs _____________

_____________________ ____________

Cost of goods manufactured ____________

b. Prepare an income statement for the month ended March 31

___________________ ________________________

Cost of goods sold:

___________________ ______________________________

___________________ ______________________________

___________________ ______________________________

___________________ ______________________________

Cost of goods sold ____________________________

Gross Profit ____________________________

Operating expenses:

___________________ _____________________________

___________________ ______________________________

c. Prepare only the inventory section of the balance sheet.

Inventory:

Materials \$

Work in process

Finished goods

Total Inventory \$