Horizontal Analysis The comparative temporary investments and inventory balances of a company follow: Current Year Accounts payable Long-term debt Previous Year $46,000 $36,800 46,720 64,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Percentage Accounts payable Long-term debt Increase/Decrease % %

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Horizontal Analysis
The comparative temporary investments and inventory balances of a company follow:
Current Year
Accounts payable
Long-term debt
$46,000
46,720
Accounts payable
Long-term debt
$36,800
64,000
Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis?
Amount of Change
Percentage
$
Previous Year
$
Increase/Decrease
%
1%
Transcribed Image Text:Horizontal Analysis The comparative temporary investments and inventory balances of a company follow: Current Year Accounts payable Long-term debt $46,000 46,720 Accounts payable Long-term debt $36,800 64,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Percentage $ Previous Year $ Increase/Decrease % 1%
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