Numerator:Trend Percent for Cost of Goods Sold:Denominator:Numerator:172021:2020:2019:2018:2017:Is the trend percent for Cost of Goods Sold favorable or unfavorable?11Trend Percent for Accounts Receivable:1Denominator:2021:2020:2019:2018:2017:7Is the trend percent for Accounts Receivable favorable or unfavorable?111ITrend percentTrend percent%%%196% Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1SalesCost of goods soldAccounts receivable2021:2020:Numerator:2019:2018:2017:2021$ 599,194302,14728,941Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether thesituation as revealed by the trend percents appears to be favorable or unfavorable.Numerator:2021:2020:2019:2018:2017:Is the trend percent for Net Sales favorable or unfavorable?Trend Percent for Net Sales:1112028$ 389,087196,34422,684112019$ 320,236163,46821,8401Trend Percent for Cost of Goods Sold;1Denominator:Denominator:2018$ 216,376109,93812,7012017$159,10079,55810,930Trend percentTrend percent%%%%%%%%%

Trend Analysis: Trend analysis is a tool to predict the future trend of stocks or sales, it is the…

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 2018 $216,376 109,938 12,701 Sales Cost of goods sold Accounts receivable 2021: 2020: 2019: 2040 2021 $ 599,194 302,147 28,941 Numerator: Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2020 $ 389,087 196,344 22,684 1 2019 $ 320,236 163,468 21,840 Trend Percent for Net Sales: 1 2017 $ 159,100 79,558 10,930 Denominator: Trend percent

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 2018 $216,376 109,938 12,701 Sales Cost of goods sold Accounts receivable 2021: 2020: 2019: 2040 2021 $ 599,194 302,147 28,941 Numerator: Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2020 $ 389,087 196,344 22,684 1 2019 $ 320,236 163,468 21,840 Trend Percent for Net Sales: 1 2017 $ 159,100 79,558 10,930 Denominator: 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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Question

Numerator:
Trend Percent for Cost of Goods Sold:
Denominator:
Numerator:
1
7
2021:
2020:
2019:
2018:
2017:
Is the trend percent for Cost of Goods Sold favorable or unfavorable?
1
1
Trend Percent for Accounts Receivable:
1
Denominator:
2021:
2020:
2019:
2018:
2017:
7
Is the trend percent for Accounts Receivable favorable or unfavorable?
1
1
1
I
Trend percent
Trend percent
%
%
%
196
%

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1
Sales
Cost of goods sold
Accounts receivable
2021:
2020:
Numerator:
2019:
2018:
2017:
2021
$ 599,194
302,147
28,941
Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the
situation as revealed by the trend percents appears to be favorable or unfavorable.
Numerator:
2021:
2020:
2019:
2018:
2017:
Is the trend percent for Net Sales favorable or unfavorable?
Trend Percent for Net Sales:
1
1
1
2028
$ 389,087
196,344
22,684
1
1
2019
$ 320,236
163,468
21,840
1
Trend Percent for Cost of Goods Sold;
1
Denominator:
Denominator:
2018
$ 216,376
109,938
12,701
2017
$159,100
79,558
10,930
Trend percent
Trend percent
%
%
%
%
%
%
%
%
%

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