Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favourable or unfavourable. 2024 2023 Sales Cost of goods sold Accounts receivable $ 553,119 290,122 26,882 $ 363,894 190,775 21,215 2022 $ 292,284 155,088 20,021 2021 $ 210,276 110,844 12,322 2020 $ 159,300 82,836 10,928 2024: 2023: 2022: 2021: 2020: Numerator: Trend Percent for Net Sales: 1 Is the trend percent for Net Sales favourable or unfavourable? 2024: 2023: 2022: 2021: 2020: Denominator: = Trend percent 0 % 0% 0% 0% 0 % Trend Percent for Cost of Goods Sold: Numerator: Denominator: Is the trend percent for Cost of Goods Sold favourable or unfavourable? = Trend percent 0% 0% 0% 0% 0%
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favourable or unfavourable. 2024 2023 Sales Cost of goods sold Accounts receivable $ 553,119 290,122 26,882 $ 363,894 190,775 21,215 2022 $ 292,284 155,088 20,021 2021 $ 210,276 110,844 12,322 2020 $ 159,300 82,836 10,928 2024: 2023: 2022: 2021: 2020: Numerator: Trend Percent for Net Sales: 1 Is the trend percent for Net Sales favourable or unfavourable? 2024: 2023: 2022: 2021: 2020: Denominator: = Trend percent 0 % 0% 0% 0% 0 % Trend Percent for Cost of Goods Sold: Numerator: Denominator: Is the trend percent for Cost of Goods Sold favourable or unfavourable? = Trend percent 0% 0% 0% 0% 0%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the
situation as revealed by the trend percents appears to be favourable or unfavourable.
2024
2023
Sales
Cost of goods sold
Accounts receivable
$ 553,119
290,122
26,882
$ 363,894
190,775
21,215
2022
$ 292,284
155,088
20,021
2021
$ 210,276
110,844
12,322
2020
$ 159,300
82,836
10,928
2024:
2023:
2022:
2021:
2020:
Numerator:
Trend Percent for Net Sales:
1
Is the trend percent for Net Sales favourable or unfavourable?
2024:
2023:
2022:
2021:
2020:
Denominator:
=
Trend percent
0 %
0%
0%
0%
0 %
Trend Percent for Cost of Goods Sold:
Numerator:
Denominator:
Is the trend percent for Cost of Goods Sold favourable or unfavourable?
=
Trend percent
0%
0%
0%
0%
0%
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