Biology Forums - Study Force

Presented below are the comparative balance sheets for Museum Company for the years 2003 through 2005.

   Museum Company
   Balance Sheet
   as of December 31,
         2005               2004               2003     
Assets
   Cash and cash equivalents   $164,000   $119,000   $3,000
   Inventory   625,000   633,000   704,000
   Other current assets   717,000   755,000   845,000
   Property and equipment (net)   665,000   673,000   722,000
   Other assets      1,262,000      1,448,000      1,477,000
Total Assets   $3,433,000   $3,628,000   $3,751,000

Liabilities and shareholders' equity
Liabilities
   Accounts payable   $147,000   $142,000   $137,000
    Other current liabilities   937,000   999,000   978,000
   Long term liabilities     1,007,000        998,000     1,164,000
Total liabilities   $2,091,000   $2,139,000   $2,279,000
Shareholders' equity      1,342,000      1,488,000     1,472,000
Total liabilities and shareholders' equity   $3,433,000   $3,627,000   $3,751,000

REQUIRED:
a.)   Compute the trend balance sheet in the space provided.

   Museum Company
   Trend Balance Sheet
   as of December 31,
         2005               2004               2003     
Assets
   Cash and cash equivalents   ________   ________   ________
   Inventory   ________   ________   ________
   Other current assets   ________   ________   ________
   Property and equipment (net)   ________   ________   ________
   Other assets   ________   ________   ________
Total Assets                                                                              

Liabilities and shareholders' equity
Liabilities
   Accounts payable   ________   ________   ________
    Other current liabilities   ________   ________   ________
   Long term liabilities   ________   ________   ________
Total liabilities   ________   ________   ________
Shareholders' equity   ________   ________   ________
Total liabilities and shareholders' equity                                                                
b.)   Answer the following questions:
1)   What happened to total assets during this three-year period?
2)   Did each component of assets decrease at the same rate as total assets?
3)   Did assets, liabilities and stockholders' equity decrease at the same rate?

Content hidden

Very nice, you've helped tremendously

Best study web site

:)