The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts
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Question:
The comparative accounts payable and long-term debt balances for a company follow.
Current Year | Previous Year | |||
Accounts payable | $42,210 | $60300 | ||
Long-term debt | 88,464 | 77,600 |
Based on this information, what is the amount and percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis?
Amount of Change | Increase/Decrease | Percentage | |
Accounts payable | $ | Increase | % |
Long-term debt | $ | Decrease | % |
Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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