Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage. Formula: Percentage Change = 100 × Later Period Amount − Base Period Amount Base Period Amount To compute: The percentage increase / decrease in net sales and net income.

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Answer 1

Question

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

(a) 3.

To determine

The basic earnings per share for 2015.

(b)

To determine

To Provide: Conclusion about the companies.

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False Value Hardware began 2013 with a credit balance of $31,900 in the allowance for sales returns account. Sales and cash collections from customers during the year were $680,000 and $640,000, respectively. False Value estimates that 5% of all sales will be returned. During 2013, customers returned merchandise for credit of $23,000 to their accounts. False Value's 2013 income statement would report net sales of: a. $657,000. b. $646,000. c. $648,100. d. $671,100.

Capitalisation method

Answer 2

Question

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

(a) 3.

To determine

The basic earnings per share for 2015.

(b)

To determine

To Provide: Conclusion about the companies.

Expert Solution & Answer

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Answer 3

Question

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

(a) 3.

To determine

The basic earnings per share for 2015.

(b)

To determine

To Provide: Conclusion about the companies.

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

(a) 3.

To determine

The basic earnings per share for 2015.

(b)

To determine

To Provide: Conclusion about the companies.

Expert Solution & Answer

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Answer 5

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

(a) 3.

To determine

The basic earnings per share for 2015.

(b)

To determine

To Provide: Conclusion about the companies.

Answer 6

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

Answer 7

Chapter 13, Problem 13.3EYCT

(a) 1.

To determine

Horizontal Analysis: Horizontal analysis is prepared to make comparison between the financial statements to determine the changes in the financial statements for the previous year to the current year. The changes of the company are measured in dollars as well as in percentage.

Formula:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount

To compute: The percentage increase / decrease in net sales and net income.

Answer 8

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

Answer 9

(a) 2.

To determine

To compute: The percentage increase / decrease in net sales and net income.

Answer 10

(a) 3.

To determine

The basic earnings per share for 2015.

Answer 11

(a) 3.

To determine

The basic earnings per share for 2015.

Answer 12

(b)

To determine

To Provide: Conclusion about the companies.

Answer 13

(b)

To determine

To Provide: Conclusion about the companies.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 13 - Prob. 1Q Ch. 13 - Prob. 2Q Ch. 13 - Prob. 3Q Ch. 13 - Prob. 4Q Ch. 13 - Prob. 5Q Ch. 13 - Prob. 6Q Ch. 13 - Prob. 7Q Ch. 13 - Prob. 8Q Ch. 13 - Prob. 9Q Ch. 13 - 10. (a) Distinguish among the following bases of...

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To compute: The percentage increase / decrease in net sales and net income.

The basic earnings per share for 2015.

To Provide: Conclusion about the companies.

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Chapter 13 Solutions