Using the following data from the comparative balance sheet of Goody Company. December 31, 2015 December 31,
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Question:
Using the following data from the comparative balance sheet of Goody Company.
| December 31, 2015 | December 31, 2014 | |
| Accounts receivable | $520,000 | $400,000 |
| Inventory | $840,000 | $600,000 |
| Total assets | $3,000,000 | $2,500,000 |
Illustrate horizontal analysis. (Round percentages to 0 decimal places, e.g. 12%.)
| Increase or (Decrease) | |||||
| Goody Company Balance Sheet | December 31, 2015 | December 31, 2014 | Amount | Percentage | |
| Accounts receivable | $520,000 | $400,000 | $ | | % |
| Inventory | $840,000 | $600,000 | $ | | % |
| Total assets | $3,000,000 | $2,500,000 | $ | | % |
Expert Answer:
Related Book For 
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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