Balances for The Cougar Hotel for the years 20X7

Part 1:

Below are the balance sheet accounts and balances for The Cougar Hotel for the years 20X7

and 20X8, please complete the following:

 

1.    Organize the information into the correct Balance Sheet Format.  Proper format

includes:

a.    Headings

b.    Dates

c.     Subtotals/Totals  

d.    Vertical Analysis

e.    Horizontal Analysis 


20X7                  20X8

Accounts Payable                               100,000             500,000

Accounts Receivable                         500,000             100,000

Accumulated Depreciation          (7,000,000)     (12,000,000) Building                                          20,000,000       25,000,000

Cash                                                      600,000             400,000

Common Stock                              20,000,000       25,000,000

Current Portion of Mortgage        1,250,000          1,250,000

Equipment                                     10,000,000       12,000,000

Goodwill                                           1,700,000          1,700,000

Inventory                                          1,000,000             200,000

Land                                                10,000,000       10,000,000

Long-term Bond Payable              2,000,000          2,000,000

Marketable Securities                       600,000             500,000

Mortgage                                       10,000,000          5,800,000

Prepaids                                               300,000             300,000

Restricted Cash                                  200,000             200,000

Retained Earnings                          4,250,000          3,700,000

Taxes Payable                                     300,000             150,000

 

 

 

Hint:  Look at the balance sheet examples provided in the PowerPoints for both the

lectures and the sample problems.

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