Sales Cost of goods sold. Accounts receivable 2021 $ 424,322 214,661 20,580 Numerator: 2020 $ 279,159 141,180 16,303 2019 $ 218,948 112,924 15,042 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three account state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? 2018 $ 153,648 78,724 8,973 Denominator: 2017 $ 116,400 58,200 7,973 Trend percent % % % at

Sales Cost of goods sold. Accounts receivable 2021 $ 424,322 214,661 20,580 Numerator: 2020 $ 279,159 141,180 16,303 2019 $ 218,948 112,924 15,042 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three account state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? 2018 $ 153,648 78,724 8,973 Denominator: 2017 $ 116,400 58,200 7,973 Trend percent % % % at

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

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1
Sales
Cost of goods sold.
Accounts receivable
2021
$ 424,322
214,661
20,580
Numerator:
2020
$ 279,159
141, 180
16,303
2019
$ 218,948
112,924
15,042
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.
Trend Percent for Net Sales:
2021:
2020:
2019:
2018:
2017:
Is the trend percent for Net Sales favorable or unfavorable?
2018
$ 153,648
78,724
8,973
Denominator:
2017
$ 116,400
58,200
7,973
11
Trend percent
%
%
ge
%
%
%

Numerator:
Trend Percent for Cost of Goods Sold:
Denominator:
2021:
2020:
2019:
2018:
2017:
Is the trend percent for Cost of Goods Sold favorable or unfavorable?
Numerator:
1
1
1
Trend Percent for Accounts Receivable:
Denominator:
1
1
1
1
2021:
2020:
2019:
2018:
2017:
1
Is the trend percent for Accounts Receivable favorable or unfavorable?
H
11
H
11
11
H
11
n
Trend percent
Trend percent
%
20
28
%
%
de ae ae af
je je
%
%
%
%

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