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. Sales Cost of goods sold Accounts receivable Numerator: 2024 $ 746,664 368,365 36,139 Numerator: 2024: 2023: 2022: 2021: 2020: is the trend percent for Net Sales favourable or unfavourable? Trend Percent for Net Sales: 1 1 1 2023 $ 484,847 239,225 28,315 1 1 1 2022 $375,850 187,417 25,783 Trend Percent for Cost of Goods Sold: 1 Denominator: 1 Denominator: 2024: 2023: 2022: 2021: 1 2020: 1 te the front norront for Cnet of Conde Snit faunerala nr infaunvirahla? 2021 $ 255,680 126,583 14,932 2020 $ 188,000 92,128 12,859 Trend percent Trend percent % % % %
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. Sales Cost of goods sold Accounts receivable Numerator: 2024 $ 746,664 368,365 36,139 Numerator: 2024: 2023: 2022: 2021: 2020: is the trend percent for Net Sales favourable or unfavourable? Trend Percent for Net Sales: 1 1 1 2023 $ 484,847 239,225 28,315 1 1 1 2022 $375,850 187,417 25,783 Trend Percent for Cost of Goods Sold: 1 Denominator: 1 Denominator: 2024: 2023: 2022: 2021: 1 2020: 1 te the front norront for Cnet of Conde Snit faunerala nr infaunvirahla? 2021 $ 255,680 126,583 14,932 2020 $ 188,000 92,128 12,859 Trend percent Trend percent % % % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
Sales.
Cost of goods sold
Accounts receivable
Numerator:
2024:
2023:
2022:
2024
$ 746,664
368,365
36,139
Numerator:
2024:
2023:
2022:
2021:
2020:
is the trend percent for Net Sales favourable or unfavourable?
Trend Percent for Net Sales:
7
2023
$ 484,847
239,225
28,315
1
1
2022
$375,850
187,417
25,783
1
7
Trend Percent for Cost of Goods Sold:
1
Denominator
Denominator:
2021:
2020:
le the trond norront for Cnet of Conde Snir faunrahlo nr infounirahla?
2021
$ 255,680
126,583
14,932
2020
$ 188,000
92,120
12,859
Trend percent
Trend percent
%
%
%
%
%
%
%
Transcribed Image Text:Is the trend percent for Net Sales favourable or unfavourable?
2024:
2023:
2022:
Numerator:
Trend Percent for Cost of Goods Sold:
Denominator:
2021:
2020:
Is the trend percent for Cost of Goods Sold favourable or unfavourable?
Numerator:
Trend Percent for Accounts Receivable:
Denominator:
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Accounts Receivable favourable or unfavourable?
H
=
F
=
Trend percent
Trend percent
28 29
%
%
%
%
%
de de
%
%
%
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