Brief Exercise 14-1 (Part Level Submission) Selected data from the comparative s
ID: 2556965 • Letter: B
Question
Brief Exercise 14-1 (Part Level Submission) Selected data from the comparative statements of financial position of Accustart Ltd. are shown below 2018 2017 2016 $75,000 454,000 695,000 Cash Accounts receivable Inventory Property, plant, and equipment Intangible assets Total assets 596,000 773,000 3,127,000 88,000 $152,000 $173,000 403,000 606,000 2,777,000 98,000 2,840,000 $4,736,000 $4,057,000 $4,064,000 Your answer is correct. Using horizontal analysis, calculate the percentage of a base-year amount, assuming 2016 is the base year. (Round answers to 1 decimal place, eg, 5.2%.) 2018 2017 2016 202.7 230.7 100 Cash 131.3 88.8 100 Accounts receivable 87.2 100 Inventory 110.1 97.8 100 Property, plant, and equipmentExplanation / Answer
2018
2017
2016
% change in 2018
% change in 2017
Cash
152000
173000
75000
-12.1%
130.7%
A/R
96000
403000
454000
-76.2%
-11.2%
Inventory
773000
606000
695000
27.6%
-12.8%
Property Plant & equipment
3127000
2777000
2840000
12.6%
-2.2%
Intangible asset
88000
98000
0
-10.2%
Infinite
Total asset
4736000
4057000
4064000
16.7%
-0.2%
% change = (next year value – base year value)/base year value
Intangible asset % change in 2017 = (98000 – 0)/0 = Infinite
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2018
2017
2016
% change in 2018
% change in 2017
Cash
152000
173000
75000
-12.1%
130.7%
A/R
96000
403000
454000
-76.2%
-11.2%
Inventory
773000
606000
695000
27.6%
-12.8%
Property Plant & equipment
3127000
2777000
2840000
12.6%
-2.2%
Intangible asset
88000
98000
0
-10.2%
Infinite
Total asset
4736000
4057000
4064000
16.7%
-0.2%
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