Horizontal and Vertical AnalysisPlato Clothing Company specializes in selling apparel forspecial occasions. In 2022 and 2023, Plato's accountbalances were as follows:Accounts receivableMerchandise inventoryTotal assetsNet salesCost of goods soldRequired:Accounts receivable1. Calculate the change in each of the Plato's accountsfrom 2022 to 2023. Enter negative sign for decreasevalues.Merchandise inventoryTotal assetsNet salesCost of goods soldAccounts receivableMerchandiseinventory2. Indicate what happened from 2022 to 2023 to accountsreceivable and merchandise inventory as a percentage oftotal assets. Round your answers to the nearest wholepercent.2023.Cost of goodssold2023.2023$60,7507,650297,040221,000113,880$000002023.2022$45,00017,100288,750211,20084,100fromfrom% in 2022 toIndicate what happened from 2022 to 2023 to cost ofgoods sold as a percentage of net sales. Round youranswers to the nearest whole percent.from% in 2022 to% in 2022 to

Horizontal and vertical analysis are two common methods used in financial statement analysis to…

Horizontal and Vertical Analysis Plato Clothing Company specializes in selling apparel for special occasions. In 2022 and 2023, Plato's account balances were as follows: Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold Req red: Accounts receivable Merchandise inventory 1. Calculate the change in each of the Plato's accounts from 2022 to 2023. Enter negative sign for decrease values. Total assets Net sales Cost of goods sold Accounts receivable Merchandise inventory 2023. Cost of goods sold 2023. $ $ 2. Indicate what happened from 2022 to 2023 to accounts receivable and merchandise inventory as a percentage of total assets. Round your answers to the nearest whole percent. 2023. $ 2023 $60,750 7,650 297,040 221,000 113,880 $ 2022 from $45,000 17,100 288,750 211,200 84,100 from % in 2022 to Indicate what happened from 2022 to 2023 to cost of goods sold as a percentage of net sales. Round your answers to the nearest whole percent. from % in 2022 to % in 2022 to

Horizontal and Vertical Analysis Plato Clothing Company specializes in selling apparel for special occasions. In 2022 and 2023, Plato's account balances were as follows: Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold Req red: Accounts receivable Merchandise inventory 1. Calculate the change in each of the Plato's accounts from 2022 to 2023. Enter negative sign for decrease values. Total assets Net sales Cost of goods sold Accounts receivable Merchandise inventory 2023. Cost of goods sold 2023. $ $ 2. Indicate what happened from 2022 to 2023 to accounts receivable and merchandise inventory as a percentage of total assets. Round your answers to the nearest whole percent. 2023. $ 2023 $60,750 7,650 297,040 221,000 113,880 $ 2022 from $45,000 17,100 288,750 211,200 84,100 from % in 2022 to Indicate what happened from 2022 to 2023 to cost of goods sold as a percentage of net sales. Round your answers to the nearest whole percent. from % in 2022 to % in 2022 to

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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Cost of goods sold to be shown along with formula and answer? Purchases $ 30,526 Selling expense $ 769 Inventory, September 1 5,755 Administrative expense 732 Inventory, September 30 10,605 Sales 56,096 Rent revenue 984 Interest expense 1,159
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Debit $ 3,580 31,400 1,715 Credit Cash Merchandise inventory Store supplies Office supplies Prepaid insurance Store equipment Accumulated depreciation, store equipment Office equipment Accumulated depreciation, office equipment Accounts payable Zen Woodstock, capital Zen Woodstock, withdrawals Rental revenue 645 3,960 57,615 $ 6,750 13,100 6,550 4, 000 52, 000 31, 500 14,600 501,520 Sales Sales returns and allowances 2,915 5,190 331, 315 Sales discounts Purchases 2,140 4,725 Purchase returns and allowances Purchase discounts Transportation-in Sales salaries expense Rent expense, selling space Advertising expense Store supplies expense Depreciation expense, store equipment Office salaries expense Rent expense, office space Office supplies expense Insurance expense Depreciation expense, office equipment 3,690 34,710 24,080 6,400 27,630 13,000 Totals $592, 285 $592, 285 a. The balance on January 1, 2020, in the Store Supplies account was $480. During the year, $1,235 of store supplies…
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Do not Give solution in images format The records of Earthly Goods provided the following information for the year ended December 31, 2023. At Cost At Retail January 1 beginning inventory $ 451,350 $ 907,150 Purchases 2,967,585 6,378,700 Purchase returns 48,800 115,350 Sales 5,455,700 Sales returns 42,600 Required: 1. Prepare an estimate of the company’s year-end inventory by the retail method. (Round all calculations to two decimal places.) 2. Under the assumption the company took a year-end physical inventory at marked selling prices that totalled $1,671,800, prepare a schedule showing the store’s loss from theft or other causes at cost and at retail.
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