Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts...

 

Transcribed Image Text:

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021 $ 661,577 339,954 32,086 2020 $ 432,403 222,176 25,252 2019 $ 335,196 174,000 22,961 2018 $ 245,565 126,638 14,316 2017 $ 181,900 92,769 12,497 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, sta situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: 1 Denominator: I 1 I 1 Is the trend percent for Net Sales favorable or unfavorable? Numerator: Trend Percent for Cost of Goods Sold: Denominator: =3 Trend percent = % = % = % % % 1 || = Trend percent 2021: = % 2020: 1 == % 2019: % 2018: / % 2017: 1 = % Is the trend percent for Cost of Goods Sold favorable or unfavorable? Prev 2 of 9 Nove Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021 $ 661,577 339,954 32,086 2020 $ 432,403 222,176 25,252 2019 $ 335,196 174,000 22,961 2018 $ 245,565 126,638 14,316 2017 $ 181,900 92,769 12,497 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, sta situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: 1 Denominator: I 1 I 1 Is the trend percent for Net Sales favorable or unfavorable? Numerator: Trend Percent for Cost of Goods Sold: Denominator: =3 Trend percent = % = % = % % % 1 || = Trend percent 2021: = % 2020: 1 == % 2019: % 2018: / % 2017: 1 = % Is the trend percent for Cost of Goods Sold favorable or unfavorable? Prev 2 of 9 Nove

Answer rating: 100% (QA)

To compute the trend percents for net sales and cost of goods sold and determine whether the situati... View the full answer