Manchester Technology has the following data available: $\begin{array} { l l }
\text { Long-term Note Payable, December 31, 2013 } & \$ 90 \
\text { Long-term Note Payable, December 31, 2012 } & \$ 180 \
\text { Total Assets, December 31, 2013 } & \$ 630 \
\text { Total Assets, December 31, 2012 } & \$ 585 \
\text { Total Liabilities, December 31, 2013 } & \$ 320 \
\text { Total Liabilities, December 31, 2012 } & \$ 300
\end{array}$
If a common size balance sheet were prepared,what percentage would be attributable to the 2012 long-term note payable of Manchester Technology?
A)30.8%
B)60.0%
C)63.2%
D)69.2%
E)100.0%

Question

Manchester Technology has the following data available: $\begin{array} { l l } 
\text { Long-term Note Payable, December 31, 2013 } & \$ 90 \
\text { Long-term Note Payable, December 31, 2012 } & \$ 180 \
\text { Total Assets, December 31, 2013 } & \$ 630 \
\text { Total Assets, December 31, 2012 } & \$ 585 \
\text { Total Liabilities, December 31, 2013 } & \$ 320 \
\text { Total Liabilities, December 31, 2012 } & \$ 300
\end{array}$ 
If a common size balance sheet were prepared,what percentage would be attributable to the 2012 long-term note payable of Manchester Technology?
A)30.8%
B)60.0%
C)63.2%
D)69.2%
E)100.0%

Quizplus · Accepted Answer

The long-term note payable at December 31, 2012, was $180, and the total liabilities at that date were $300. Therefore, the long-term note payable represented 180/300 * 100 = 60.0% of total liabilities.

Manchester Technology Has the Following Data Available If a Common Size Balance Sheet Were Prepared,what Percentage Would