### Horizontal Analysis of Adams Company's Financial Data**Cash and Accounts Receivable for Adams Company**The financial data for Adams Company for the current and prior years is as follows:| | Current Year | Prior Year ||------------------------|--------------|-------------|| **Cash** | $70,000 | $50,000 || **Accounts Receivable (net)** | $70,400 | $80,000 |Based on this information, calculate the amount and percentage of increase or decrease that would be shown with horizontal analysis. Enter a decrease using a minus sign before the amount and the percentage.### Calculation Table#### Account: Cash- **Dollar Change:** ( Current Year - Prior Year ) - **% Change:** ( (Dollar Change) / Prior Year ) * 100#### Account: Accounts Receivable- **Dollar Change:** ( Current Year - Prior Year ) - **% Change:** ( (Dollar Change) / Prior Year ) * 100| Account | Dollar Change | Percent Change ||------------------------|-------------------------|-----------------------|| **Cash** | _______ | _______% || **Accounts Receivable**| _______ | _______% |#### Explanation of the Graphs or Diagrams:No graphs or diagrams are provided in this analysis. The calculation requires manual input to determine the dollar and percentage change for both cash and accounts receivable. The calculations are as follows:1. **Dollar Change Calculation:** - For Cash: $70,000 - $50,000 = $20,000 - For Accounts Receivable: $70,400 - $80,000 = -$9,6002. **Percentage Change Calculation:** - For Cash: ($20,000 / $50,000) * 100 = 40% - For Accounts Receivable: (-$9,600 / $80,000) * 100 = -12%Thus, based on the horizontal analysis:| Account | Dollar Change | Percent Change ||------------------------|-------------------------|-----------------------|| **Cash** | $20,000 | 40% || **Accounts Receivable**| -$9,600 | -12% |This calculation shows an increase of $20,000 (or 40%) in cash, and a decrease of $9

Cash and accounts receivable for Adams Company are provided below: Prior Year $50,000 80,000 Current Year Cash $70,000 Accounts receivable (net) 70,400 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change % Cash Accounts Receivable

Cash and accounts receivable for Adams Company are provided below: Prior Year $50,000 80,000 Current Year Cash $70,000 Accounts receivable (net) 70,400 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change % Cash Accounts Receivable

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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