Reliable Moving Company reported the following amounts on its balance sheet as of December 31,2019 and December 31,2018: For the vertical analysis,what is the percentage of total liabilities for December 31,2018? (Round your answer to two decimal places. )
A)100.00%
B)39.55%
C)29.03%
D)45.37%

Question

Reliable Moving Company reported the following amounts on its balance sheet as of December 31,2019 and December 31,2018:  For the vertical analysis,what is the percentage of total liabilities for December 31,2018? (Round your answer to two decimal places. )
A)100.00% 
B)39.55% 
C)29.03% 
D)45.37%

Quizplus · Accepted Answer

Vertical analysis % = (Specific item / Base amount)× 100
Vertical analysis % = ($465,000/ $1,025,000)× 100
Vertical analysis % = 45.37%

Reliable Moving Company Reported the Following Amounts on Its Balance