The comparative accounts payable and long-term debt balances for a company follow. Based on this information, what

Question:

The comparative accounts payable and long-term debt balances for a company follow.

Current Year Previous Year Accounts payable Long-term debt $114,240 127,200 $102,000

Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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