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2021 2020 2019 Sales Cost of goods sold Accounts receivable $ 584,138 306,202 28,272 $ 384,301 $ 318,922 201,437 169,289 22,366 21,814 2018 2017 $ 220,707 $ 161,100 115,968 12,867 83,772 11,051 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: Analysis period net sales Base year net sales 2021: $ 584,138 / 2020: $ 384,301 / 2019: $ 318,922/ 2018: $ 220,707 / 2017: $ 161,100 / Is the trend percent for Net Sales favorable or unfavorable? Trend percent 0% 0% 0% 0% 0% Trend Percent for Cost of Goods Sold: Numerator: Denominator: Analysis period cost of goods sold Base year cost of goods sold Trend percent 2021: $ 306,202 / = 0% 2020: $ 201,437 / 0% 2019: $ 169,289 / 0%

2021 2020 2019 Sales Cost of goods sold Accounts receivable $ 584,138 306,202 28,272 $ 384,301 $ 318,922 201,437 169,289 22,366 21,814 2018 2017 $ 220,707 $ 161,100 115,968 12,867 83,772 11,051 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: Analysis period net sales Base year net sales 2021: $ 584,138 / 2020: $ 384,301 / 2019: $ 318,922/ 2018: $ 220,707 / 2017: $ 161,100 / Is the trend percent for Net Sales favorable or unfavorable? Trend percent 0% 0% 0% 0% 0% Trend Percent for Cost of Goods Sold: Numerator: Denominator: Analysis period cost of goods sold Base year cost of goods sold Trend percent 2021: $ 306,202 / = 0% 2020: $ 201,437 / 0% 2019: $ 169,289 / 0%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2021 2020 2019 Sales Cost of goods sold Accounts receivable $ 584,138 306,202 28,272 $ 384,301 $ 318,922 201,437 169,289 22,366 21,814 2018 2017 $ 220,707 $ 161,100 115,968 12,867 83,772 11,051 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: Analysis period net sales Base year net sales 2021: $ 584,138 / 2020: $ 384,301 / 2019: $ 318,922/ 2018: $ 220,707 / 2017: $ 161,100 / Is the trend percent for Net Sales favorable or unfavorable? Trend percent 0% 0% 0% 0% 0% Trend Percent for Cost of Goods Sold: Numerator: Denominator: Analysis period cost of goods sold Base year cost of goods sold Trend percent 2021: $ 306,202 / = 0% 2020: $ 201,437 / 0% 2019: $ 169,289 / 0%
Transcribed Image Text:2021 2020 2019 Sales Cost of goods sold Accounts receivable $ 584,138 306,202 28,272 $ 384,301 $ 318,922 201,437 169,289 22,366 21,814 2018 2017 $ 220,707 $ 161,100 115,968 12,867 83,772 11,051 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: Analysis period net sales Base year net sales 2021: $ 584,138 / 2020: $ 384,301 / 2019: $ 318,922/ 2018: $ 220,707 / 2017: $ 161,100 / Is the trend percent for Net Sales favorable or unfavorable? Trend percent 0% 0% 0% 0% 0% Trend Percent for Cost of Goods Sold: Numerator: Denominator: Analysis period cost of goods sold Base year cost of goods sold Trend percent 2021: $ 306,202 / = 0% 2020: $ 201,437 / 0% 2019: $ 169,289 / 0%
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