Sales Cost of goods sold Accounts receivable 2021 $ 485,328 254,821 23,393 2020 $ 315,148 165,477...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sales Cost of goods sold Accounts receivable 2021 $ 485,328 254,821 23,393 2020 $ 315,148 165,477 18,468 2019 $ 252,118 134,251 17,220 2018 $ 175,692 92,710 10,243 2017 $ 133,100 69,212 9,131 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: % 2020: 2019: 2018: % 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: taheducaton cem n1Canect GCmte Tet Per Fer Te swork 10 2017 eend perenttor ht Sales toraoruntavore TentPenttcCestatGoods et Numt Deinater Trend pern 2001 2020 2017 she end petant t Ctof Goode So avorbie or untaver JPantAurt Recivatte Numerator Denenia Tpet 201 nd percent Au c unte Pre Q R T. Y F G H. K C V Bi M. tion command w/ Sales Cost of goods sold Accounts receivable 2021 $ 485,328 254,821 23,393 2020 $ 315,148 165,477 18,468 2019 $ 252,118 134,251 17,220 2018 $ 175,692 92,710 10,243 2017 $ 133,100 69,212 9,131 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: % 2020: 2019: 2018: % 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: taheducaton cem n1Canect GCmte Tet Per Fer Te swork 10 2017 eend perenttor ht Sales toraoruntavore TentPenttcCestatGoods et Numt Deinater Trend pern 2001 2020 2017 she end petant t Ctof Goode So avorbie or untaver JPantAurt Recivatte Numerator Denenia Tpet 201 nd percent Au c unte Pre Q R T. Y F G H. K C V Bi M. tion command w/ Sales Cost of goods sold Accounts receivable 2021 $ 485,328 254,821 23,393 2020 $ 315,148 165,477 18,468 2019 $ 252,118 134,251 17,220 2018 $ 175,692 92,710 10,243 2017 $ 133,100 69,212 9,131 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: % 2020: 2019: 2018: % 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: taheducaton cem n1Canect GCmte Tet Per Fer Te swork 10 2017 eend perenttor ht Sales toraoruntavore TentPenttcCestatGoods et Numt Deinater Trend pern 2001 2020 2017 she end petant t Ctof Goode So avorbie or untaver JPantAurt Recivatte Numerator Denenia Tpet 201 nd percent Au c unte Pre Q R T. Y F G H. K C V Bi M. tion command w/ Sales Cost of goods sold Accounts receivable 2021 $ 485,328 254,821 23,393 2020 $ 315,148 165,477 18,468 2019 $ 252,118 134,251 17,220 2018 $ 175,692 92,710 10,243 2017 $ 133,100 69,212 9,131 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: % 2020: 2019: 2018: % 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: taheducaton cem n1Canect GCmte Tet Per Fer Te swork 10 2017 eend perenttor ht Sales toraoruntavore TentPenttcCestatGoods et Numt Deinater Trend pern 2001 2020 2017 she end petant t Ctof Goode So avorbie or untaver JPantAurt Recivatte Numerator Denenia Tpet 201 nd percent Au c unte Pre Q R T. Y F G H. K C V Bi M. tion command w/
Expert Answer:
Answer rating: 100% (QA)
Solution Trend Percent for Net Sales Choose Numerator Choose Denominator Analysis Period Net sales B... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Compute trend percents for the following accounts, using 2011 as the base year (round the percents to whole numbers). State whether the situation as revealed by the trends appears to be favorable or...
-
Compute trend percents for the following accounts, using 2011 as the base year (round the percents to whole numbers). State whether the situation as revealed by the trends appears to be favorable or...
-
Compute trend percents for the following accounts, using 2012 as the base year (round percents to whole numbers). State whether the situation as revealed by the trends appears to be favorable or...
-
ABC Corporation earned $300,000 in profit in the current tax year, which is significantly higher than its previous year's earnings. Thus, its shareholders expected large dividends in the current...
-
Ivey Designs provides internet hosting services to customers who purchase annual maintenance contracts. Ivey charges $1,200 per year. On September 1, Durbin Farms signs a contract with Ivey and pays...
-
The inventory at the end of the year was understated by $14,750. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet...
-
If it is assumed that the enthalpy of reaction, \(Q_{p}\), is a constant, show that the value of \(K_{p}\) is given by \[K_{p}=\mathrm{e}^{-Q_{p} / \Re T+k}\] where \(k\) is a constant. For a...
-
Min Co. is a publicly held company whose shares are traded in the over-the-counter market. The stockholders equity accounts at December 31, 2006 had the following balances: Preferred stock, $100 par...
-
Executive Summary 1. Introduction to the company (a) 300 (b) (c) (d) Introduction the company and provide some background and current state of the company. Describe the range of products that they...
-
Alice has invented a new card game to play with Bob. Alice made a deck of cards with random values between 1 and 52. Bob picks 5 cards. Then, he has to rearrange the cards so that by utilizing the...
-
import java.util.Scanner;public class OnlineShoppingStore { { public static void main ( ( String [ ] [ ] args ) { ) { Scanner scanner = = new Scanner ( ( System . . in ) ) ; int total = 0 = 0 ; int...
-
Ms. Chou, who is in the 37 percent marginal tax bracket, is the sole shareholder of Liu Corporation. This year, Liu earned $200,000 of taxable income and distributed $50,000 to Ms. Chou. Calculate...
-
ABC Corporation is considering a project with the following projected numbers: Initial investment to purchase equipment $260,000 Net working capital investment $16,500 Depreciate equipment to zero...
-
Use the Laplace transform to solve the following initial value problem: y" + 6y +9y=0 y(0)= 4, y/(0)=-3 a. Using Y for the Laplace transform of y(t), i.e., Y = {y(t)}, find the equation you get by...
-
Mike opened a new convenience store on January 1 of this year. He rents retail space with a lease of 7 years with a renewal period of 3 years and a second renewal period of 2 years after. He made...
-
Assume you have a bond with a semi-annual interest payment of $60, a par value of $1,000, and a current market price of $920. What is the current yield of the bond?
-
Discuss why developing standards is important for a database management system. Describe issues OODBMS systems face and explain how those issues have allowed RDBMS systems to thrive.
-
What did Lennox gain by integrating their WMS, TMS, and labor management systems?
-
Outer Reaches, Inc. is a leading ï¬rm in the aerospace and defense industries. The following selected ï¬nancial data (in millions) are for three years. The companys ï¬scal...
-
What is an operating cycle, and how does it affect the classication of items on a balance sheet?
-
Brendon Co. sells a variety of souvenir products on Emerald Isle, North Carolina. The company began 2009 with inventory having a cost of $136,000 and a retail value of $241,000. During 2009, Brendon...
-
Grill Master Company sells total outdoor grilling solutions, providing gas and charcoal grills, accessories, and installation services for custom patio grilling stations. Instructions Respond to the...
-
Hui Hardware takes pride as the shop around the corner that can compete with the big-box home improvement stores by providing good service from knowledgeable sales associates (many of whom are...
-
Shanahan Construction Company has entered into a contract beginning January 1, 2015, to build a parking complex. It has been estimated that the complex will cost \($600\),000 and will take 3 years to...
Study smarter with the SolutionInn App