Pad 12:28 PM * 98% v2.cengagenow.com Cengage CengageNOWu2.. Horizontal Analysis.
ID: 2602415 • Letter: P
Question
Pad 12:28 PM * 98% v2.cengagenow.com Cengage CengageNOWu2.. Horizontal Analysis... Income Statement The Following Infor... HWK CH 14 Horizontal Analysis The comparative accounts payable and long-term debt balances of a company are provided below Current Year $55,818 36,470 Previous Year $44,300 52,100 Accounts payable Long-term debt Based on this information, what is the amount and percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis? Enter all answers as positive numbers Amount of Change Increase/Decrease Percentage Accounts payable $11,518 Increase Long-term debt $15,630 Decrease Check My Work 2 more Check My Work uses remaining Next ssignment Score: 0.0% All work saved Save and Exit Submit Assignment for GradingExplanation / Answer
Solution:
Amount of change
Increase/ Decrease
Percentage
Accounts payable
11,518
Increase
21
Long-term debt
15630
Decrease
30
Working:
Amount of change
Percentage
Accounts payable
55818-44300= 11,518
11518/55818*100 = 21
Long-term debt
36470-52100 = 15,630
15630/52100*100 = 30
Amount of change
Increase/ Decrease
Percentage
Accounts payable
11,518
Increase
21
Long-term debt
15630
Decrease
30
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