Allstate 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 current assets as of December 31,2019? (Round your answer to two decimal places. )

Question

Allstate 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 current assets as of December 31,2019? (Round your answer to two decimal places. )

Quizplus · Accepted Answer

A)Vertical analysis % = (Specific item / Base amount)× 100
Vertical analysis % = [($75,000 + 175,000)/ $1,070,000]× 100
Vertical analysis % = 23.36%

Allstate Moving Company Reported the Following Amounts on Its Balance