Complete a vertical analysis on the balance sheet for Jake's Janitorial Service

Mathematics
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Solve the problem. Express answers as a percent rounded to the nearest tenth.

Complete a vertical analysis  on the balance sheet for Jake's Janitorial Service for December 31 of last year. The company assets are cash $20,000, accounts receivable $48,000, merchandise inventory $89,000, and equipment $82,000. The liabilities are accounts payable $13,000, wages payable $16,000, and mortgage note payable $77,000. The owner's capital is $133,000.

May 19th, 2015

Jake's Janitorial Service

Total Assets=239,000

Total Liabilities=106,000

Total Liability and owner's equity=239,000

Jake's Janitorial Service Balance Sheet

o  Cash: 8.4%

o  Accounts receivable: 20%

o  Merchandise inventory: 37.2%

o  Total assets: 100%

o  Accounts payable: 12.3%

o  Wages payable: 15.1%

o  Total liabilities: 44.4%

o  Mullen's capital: 55.6%

o  Total liabilities and owner's equity: 100%



May 19th, 2015

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