Question: Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $62,348 $57,200 Long-term debt 35,196

Horizontal Analysis

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

	Current Year	Previous Year
Accounts payable	$62,348	$57,200
Long-term debt	35,196	41,900

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? Enter all answers as positive numbers.

	Amount of Change	Increase/Decrease	Percentage
Accounts payable	$fill in the blank 1	Increase	fill in the blank 3 %
Long-term debt	$fill in the blank 4	Decrease	fill in the blank 6 %

Feedback

Calculate the change in the amount and divide by the base (older) year amount to determine the horizontal analysis percentages. Horizontal Analysis The comparative accounts payable and long-term debt balances for a

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $62,348 $57,200 Long-term debt 35, 196 41,900 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? Enter all answers as positive numbers. Amount of Change Increase/Decrease $fill in the blank 1 Increase Percentage fill in the blank 3 Accounts payable % $fill in the blank 4 fill in the blank 6 Long-term debt Decrease % Feedback Calculate the change in the amount and divide by the base (older) year amount to determine the horizontal analysis percentages

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

#8, quiz 7 Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $44,799 $41,100 Long-term debt 64,512...

eBook Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Accounts payable Long-term debt Show Me How Accounts payable Long-term debt...

Horizontal Analysis The comparative accounts payable and long - term debt balances for a company follow. Current Year Previous Year Accounts payable $ 5 0 , 2 1 5 $ 4 1 , 5 0 0 Long - term debt 6 0 ,...

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $114,240 $102,000 Long-term debt 127,200 120,000...

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $58,873 $52,100 Long-term debt 61,586 74,200 Based...

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $89,640 $74,700 Long-term debt 46,990 63,500 Based...

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $46,725 $44,500 Long-term debt 42,978 49,400 Based...

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable Long-term debt $64,641 96,547 $74,300 73,700 Based...

Inventory Analysis A company reports the following: Cost of goods sold $198,560 Average inventory 49,640 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round...

#8, quiz 7 Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $44,799 $41,100 Long-term debt 64,512...

Assume Max and Sam are negotiating their first round in SpecialStuff. Sam is sure that $3 million is all that will be needed, but Max believes it will take at least twice that. Max is willing to...

The company Sure Win makes an early redemption of bond for $315,000 on July 1, 2022. However, these bonds, with a par value of $300,000, were issued at a premium for $309,000 on the issue date. There...

Which if the following groups of accounts should be closed at the end of each accounting period? Enter the number of the group. ( 1 , 2 , 3 , 4 , or 5 ) Cash, supplies, expenses Prepaid rent,...

Any negligence of the part of the plaintiff is a complete bar to recovery in: Group of answer choices a comparative negligence state a contributory negligence state a concurrent negligence state a...

1-1 How are information systems transforming business, and why are they so essential for running and managing a business today?

As stated in the case, Therese strongly believes that the changes she was seeking for women in the workplace, were the dual responsibility of organizations and women themselves. Critically evaluate...

Research provides evidence that organisations that invest in Diversity and Inclusion are more innovative in the long run and outperform organisations that do not. Critically evaluate the...