Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether thesituation as revealed by the trend percents appears to be favourable or unfavourableSalesCost of goods soldAccounts receivable2024:2023:2022:Numerator2021:2020:Is the trend perc for Net SalesNumerator:2024$ 569,653298,67027,514Numerator:7Trend Percent for Net Sales:1/VIM2023$367,518192,60921,426able or unfavourable?W2022$ 290,528154,57519,843Trend Percent for Cost of Goods Sold:Denominator:7ADenominator:2024:2023:BALLER2022:2021:2020:Is the trend percent for Cost of Goods Sold favourable or unfavourable?Trend Percent for Accounts Receivable:Denominator:2024:2023:2022:2021:2020:is the trend percent for Accounts Receivable favourable or unfavourable?$ 197,638103,97211,522TAELiE13B17B13E#FF2020$ 148,60077,27210,164Trend percentTrend percentTrend percent88888%%%%%

Introduction:- Trend analysis of financial statements calculates the percentage changes over time in…

Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether th situation as revealed by the trend percents appears to be favourable or unfavourable. Sales Cost of goods sold. Accounts receivable 2024: 2023: 2022: 2021: Numerator: $569,653 298,670 27,514 $367,518 192,609 21,426 7 7 $ 290,528 154,575 19,843 Trend Percent for Net Sales: Denominator $ 197,638 103,972 11,522 18 1 2020 $ 148,600 77,272 10, 164 Trend percent

Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether th situation as revealed by the trend percents appears to be favourable or unfavourable. Sales Cost of goods sold. Accounts receivable 2024: 2023: 2022: 2021: Numerator: $569,653 298,670 27,514 $367,518 192,609 21,426 7 7 $ 290,528 154,575 19,843 Trend Percent for Net Sales: Denominator $ 197,638 103,972 11,522 18 1 2020 $ 148,600 77,272 10, 164 Trend percent

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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