Summary financial information for Gandaulf Company is as follows.Compute the amount and percentage changes in 2020 using horizontal analysis, assuming 2019 is the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 2 decimal places, e.g. 1.25%.) Increase (Decrease) in 2020 December 31, 2020 December 31, 2019 Amount PercentCurrent Assets $ 180,600 $ 210,000 $ enter a dollar amount enter your answer in percentages rounded to 2 decimal places %Plant Assets 821,600 790,000 enter a dollar amount enter your answer in percentages rounded to 2 decimal places %Total assets $ 1,002,200 $ 1,000,000 $ enter a total of the two previous amounts enter your answer in percentages rounded to 2 decimal places Summary financial information for Gandaulf Company is as follows.Compute the amount and percentage changes in 2020 using horizontal analysis, assuming 2019 is the base year. (Enter negativeamounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses eg. (45), (45%). Round percentages to2 decimal places, e.g. 1.25%.)Increase (Decrease) in 2020December 31,December 31,20202019AmountPercentCurrent Assets$ 180,600$ 210,000Plant Assets821,600790,000Total assets$ 1,002,200$ 1,000,000$%24%24

The horizontal analysis uses historical data to interpret changes in financial statements over two…

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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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Summary financial information for Gandaulf Company is as follows.

Compute the amount and percentage changes in 2020 using horizontal analysis, assuming 2019 is the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 2 decimal places, e.g. 1.25%.)

					Increase (Decrease) in 2020
	December 31, 2020	December 31, 2019		Amount	Percent
Current Assets	$ 180,600		$ 210,000		$ enter a dollar amount	enter your answer in percentages rounded to 2 decimal places %
Plant Assets	821,600		790,000		enter a dollar amount	enter your answer in percentages rounded to 2 decimal places %
Total assets	$ 1,002,200		$ 1,000,000		$ enter a total of the two previous amounts	enter your answer in percentages rounded to 2 decimal places