The comparative temporary investments and inventory balances of a company follow. Current Year Previous Year Accounts...
The comparative temporary investments and inventory balances of a company follow.
| Current Year | Previous Year | |
| Accounts payable | $94,248 | $79,200 |
| Long-term debt | 46,324 | 62,600 |
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?
| Amount of Change | Increase/Decrease | Percentage | |
| Accounts payable | $ | % | |
| Long-term debt | $ | % |
Homework Answers
| Amount of change | Increase/Decrease | Percentage | |
| Accounts payable | $15,248 | Increase | 19% |
| Long term debt | $16,276 | Decrease | 26% |
Accounts payable = 94,248 - 79,200 = 15,248
= (15248 ÷ 79200) * 100
= 19%
Long term debt = 46324 - 62600 = $16,276
= (16276 ÷ 62600) * 100
= 26%
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