Solved

Below Is the Partial Balance Sheet for Gabi Gold Limited

Question 31

Essay

Below is the partial balance sheet for Gabi Gold Limited:  December 31,2021 December 31,2020Accounts Receivable.....................$110,000$140,000Inventory......................................80,00095,000Total Assets..................................335,000376,000\begin{array}{lcc}&\text { December } 31,2021 & \text { December } 31,2020 \\\text{Accounts Receivable.....................}&\$ 110,000 & \$ 140,000 \\\text{Inventory......................................}&80,000 & 95,000 \\\text{Total Assets..................................}&335,000 & 376,000\end{array} Instructions
Using the items from the comparative balance sheet of Gabi Gold Limited, illustrate horizontal and vertical analysis. Discuss the results of each type of analysis.

Correct Answer:

verifed

Verified

blured image
\(\begin{array}{lcc}
&\text { December ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q23: Earnings per share is calculated<br>A) only for

Q30: Sheldon Shoes Ltd. has provided you

Q34: Debt to total assets is a ratio

Q35: Selected information from the comparative financial statements

Q36: Cook Corporation had a profit of $

Q45: When horizontal analysis is used to measure

Q106: Horizontal analysis is used mainly in<br>A) linear

Q130: If a company has an acid-test ratio

Q143: In performing a vertical analysis for a

Q147: The interest coverage ratio gives an indication