Acc 557 chapter 14 E14 3 E14 4 E14 13 P14 6A

Question: #8270

Exercises 14-3, 14-4, and 14-13, located in WileyPLUS

o Problem 14-6A, located in WileyPLUS

EXERCISE 14-3

(a) GARCIA CORPORATION

Condensed Balance Sheets

December 31

2014

2013

Increase

(Decrease)

Percentage

Change

from 2013

Assets

Current assets

Property, plant &

equipment (net)

Intangibles

Total assets

$ 76,000

100,000

24,000

$200,000

$ 80,000

90,000

40,000

$210,000

$ (4,000)

(10,000)

(16,000)

$(10,000)

(5.0%)

(11.1%)

(40.0%)

(4.8%)

GARCIA CORPORATION

Condensed Balance Sheets (Continued)

December 31

2014

2013

Increase

(Decrease)

Percentage

Change

from 2013

Liabilities and stock-

holders’ equity

Current liabilities

Long-term

liabilities

Stockholders’

equity

Total liabilities and

stockholders’

equity

$ 40,000

140,000

20,000

$200,000

$ 48,000

150,000

12,000

$210,000

$ (8,000)

(10,000)

8,000)

$(10,000)

(16.7%)

(6.7%)

(66.7%)

(4.8%)

(b) GARCIA CORPORATION

Condensed Balance Sheet

December 31, 2014

Amount

Percent

Solution: #8271

Acc 557 chapter 14(E14-3 E14-4 E14-13 P14-6A)

Exercises 14-3, 14-4, and 14-13, located in WileyPLUS o Problem 14-6A, located in WileyPLUS EXERCISE 14-3 (a) GARCIA CORPORATION Condensed Balance Sheets December 31 2014 2013 Increase (Decrease) Percentage Change from 2013 Assets Current assets Property, plant & �...