Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth). Increase/Decrease Assets 2019 2018 Amount Percent Current Assets Cash $18,400 %$411,800 24 Accounts Receivable 22,300 18,100 Merchandise Inventory 30,100 25,900 Supplies 5,600 7,600 Total Current Assets 76,400 63,400 Property, Plant, and Equipment Machinery and Equipment 56,000 57,100 Total Assets $132,400 $120,500
Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth). Increase/Decrease Assets 2019 2018 Amount Percent Current Assets Cash $18,400 %$411,800 24 Accounts Receivable 22,300 18,100 Merchandise Inventory 30,100 25,900 Supplies 5,600 7,600 Total Current Assets 76,400 63,400 Property, Plant, and Equipment Machinery and Equipment 56,000 57,100 Total Assets $132,400 $120,500
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 11MCQ
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![Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth).
Increase/Decrease
Assets
2019
2018
Amount
Percent
Current Assets
Cash
$18,400
$11,800
Accounts Receivable
22,300
18,100
Merchandise
Inventory
30,100
25,900
Supplies
5,600
7,600
Total Current Assets
76,400
63,400
Property, Plant, and Equipment
Machinery and
Equipment
56,000
57,100
Total Assets
$132,400
$120,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Febdcae61-5ffd-406e-b0cf-a7555ed2100e%2Fb997d8e0-092f-400e-9ffd-71b5058cc6f6%2Fr609o5t6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth).
Increase/Decrease
Assets
2019
2018
Amount
Percent
Current Assets
Cash
$18,400
$11,800
Accounts Receivable
22,300
18,100
Merchandise
Inventory
30,100
25,900
Supplies
5,600
7,600
Total Current Assets
76,400
63,400
Property, Plant, and Equipment
Machinery and
Equipment
56,000
57,100
Total Assets
$132,400
$120,500
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