Check Sales Cost of goods sold Accounts receivable 2021 2020 $ 459,829 223,168 22,256 $ 298,590 145,023 17,497 2019 $ 244,746 120,478 16,692 2018 $ 168,210 81,991 9,840 2017 $ 124,600 59,808 8,548 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Net Sales: Denominator: Is the trend percent for Net Sales favorable or unfavorable? 21: 20: 19: Trend Percent for Cost of Goods Sold: Numerator: Denominator: < Prev 1 of 1 Next Trend percent % 11 11 % % = % % = Trend percent = % = % = % Ո Check Sales Cost of goods sold Accounts receivable 2021 2020 $ 459,829 223,168 22,256 $ 298,590 145,023 17,497 2019 $ 244,746 120,478 16,692 2018 $ 168,210 81,991 9,840 2017 $ 124,600 59,808 8,548 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Net Sales: Denominator: Is the trend percent for Net Sales favorable or unfavorable? 21: 20: 19: Trend Percent for Cost of Goods Sold: Numerator: Denominator: < Prev 1 of 1 Next Trend percent % 11 11 % % = % % = Trend percent = % = % = % Ո
Check Sales Cost of goods sold Accounts receivable 2021 2020 $ 459,829 223,168 22,256 $ 298,590 145,023 17,497 2019 $ 244,746 120,478 16,692 2018 $ 168,210 81,991 9,840 2017 $ 124,600 59,808 8,548 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Net Sales: Denominator: Is the trend percent for Net Sales favorable or unfavorable? 21: 20: 19: Trend Percent for Cost of Goods Sold: Numerator: Denominator: < Prev 1 of 1 Next Trend percent % 11 11 % % = % % = Trend percent = % = % = % Ո Check Sales Cost of goods sold Accounts receivable 2021 2020 $ 459,829 223,168 22,256 $ 298,590 145,023 17,497 2019 $ 244,746 120,478 16,692 2018 $ 168,210 81,991 9,840 2017 $ 124,600 59,808 8,548 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Net Sales: Denominator: Is the trend percent for Net Sales favorable or unfavorable? 21: 20: 19: Trend Percent for Cost of Goods Sold: Numerator: Denominator: < Prev 1 of 1 Next Trend percent % 11 11 % % = % % = Trend percent = % = % = % Ո
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 4RE: Refer to RE6-3. Assume Long records accounts receivable and sales using the net price method....
Related questions
Question
Transcribed Image Text:Check
Sales
Cost of goods sold
Accounts receivable
2021
2020
$ 459,829
223,168
22,256
$ 298,590
145,023
17,497
2019
$ 244,746
120,478
16,692
2018
$ 168,210
81,991
9,840
2017
$ 124,600
59,808
8,548
Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts,
the situation as revealed by the trend percents appears to be favorable or unfavorable.
2021:
2020:
2019:
2018:
2017:
Numerator:
Trend Percent for Net Sales:
Denominator:
Is the trend percent for Net Sales favorable or unfavorable?
21:
20:
19:
Trend Percent for Cost of Goods Sold:
Numerator:
Denominator:
< Prev
1 of 1
Next
Trend percent
%
11
11
%
%
=
%
%
=
Trend percent
=
%
=
%
=
%
Ո
Transcribed Image Text:Check
Sales
Cost of goods sold
Accounts receivable
2021
2020
$ 459,829
223,168
22,256
$ 298,590
145,023
17,497
2019
$ 244,746
120,478
16,692
2018
$ 168,210
81,991
9,840
2017
$ 124,600
59,808
8,548
Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts,
the situation as revealed by the trend percents appears to be favorable or unfavorable.
2021:
2020:
2019:
2018:
2017:
Numerator:
Trend Percent for Net Sales:
Denominator:
Is the trend percent for Net Sales favorable or unfavorable?
21:
20:
19:
Trend Percent for Cost of Goods Sold:
Numerator:
Denominator:
< Prev
1 of 1
Next
Trend percent
%
11
11
%
%
=
%
%
=
Trend percent
=
%
=
%
=
%
Ո
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