Answer:B.long term liabilities decreased by 24.53%
Long term liabilities = 2016 amount less 2017 amount
Long term liabilities = 53000 - 40000
Horizontal analysis = ( 53000 - 40000 ) / 53000 = 24.53%
The following is a summary of information presented on the financial statements of a company on...
The following is a summary of information presented on the financial statements of a company on December 31, 2017. 2016 2017 Account $88,000 $71,000 Current Assets 75,000 54,000 51,000 64,000 67,000 Accounts Receivable Merchandise Inventory 53,000 Current Liabilities 50,000 50,000 43,000 42,000 Long-term Liabilities 78,000 Common Stock 69,000 Retained Earnings OA. long-term liabilities decreased by $2,000 O B. long-term liabilities decreased by $28000 O c. long-term liabilities decreased by 16% OD. long-term liabilities decreased by 56% Click to select your...
The following is summary of information presented on the financial statements of a company on December 31, 2015. Account 2015 2014 Current Assets $82,000 $70,000 Accounts Receivable 60,000 68,000 Merchandise Inventory 62,000 53,000 Current Liabilities 52,000 46,000 Long-term Liabilities 39,000 45,000 Common Stock 70,000 50,000 Retained Earnings 65,000 40,000 What would a horizontal analysis report show with respect to long-term liabilities? long-term liabilities decreased by $30,000 long-term liabilities decreased by $10,000 long-term liabilities decreased by 13.33% long-term liabilities decreased by...
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The 2017 financial statements for Growth Industries are presented below. Sales and costs are projected to grow at 30% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currently operating at 75% capacity, so it plans to increase fixed assets in proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The firm will maintain...
The following is a summary of information presented on the financial statements of a company on De Account 2019 2018 Net Sales Revenue $607,000 $500,000 Cost of Goods Sold 456,000 402,000 Gross Profit 151,000 98,000 Selling Expenses 54,000 54,000 Net Income Before Income Tax Expense 97.000 44,000 Income Tax Expense 42,000 19.000 Net Income $55,000 $25,000 With respect to net sales revenue, a horizontal analysis reveals O A a $54,000 increase in net sales revenue OB. a 241.59% decrease in...
The financial statements of Weston Office Supply include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $49,500 27,000 94,000 130,000 527,000 257,000 63,000 $50,000 11,000 98,000 127,000 545,000 232,000 54,000 What is 2017 current ratio? (Round your answer to two decimal places.) O A. 0.86 B. 0.57 O C. 1.17 OD. 1.65 Click to select your answer.
Free cash flow? Given the information above what is the amount of free cash flow for the company for the year? Please provide formula/equations? BUS 7013 - Managerial Accounting Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Change Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000...
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