1]
The columns are filled correctly except these two items :
Sales revenue : amount increase = 122,000 - 107,400 = $14,600
Operating expenses : % increase = 2,800 / 32,200 = 8.7%
2-a]
Cash account increased by the largest dollar amount
2-b]
Income tax payable account increased by the largest percentage
Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Amount Percentage Current Year Previous...
Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements, 2-a. Which account increased by the largest dollar amount? 2.b. Which account increased by the largest percentage? Current Previous Previous year) Amount Percentage Year Year $ % 13.6 10.6 122,000 54,400 67,600 35,000 3,800 28,800 8,640 20,160 107,400 49,200 58,200 32,200 3,800 22,200 6,660 15,540 5,200 9,400 2,800 0 6,600 1,980 4,620 0.0 29.7 29.7 29.7 OOO % Income Statement Sales Revenue Cost...
Pinnacle Plus declared and paid a cash dividend of $6,400 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Amount Percentage Current Year Previous Year...