Determine the sales trend percent for the year 2017.

Question

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Answer 1

Question

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%

The percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Conclusion

Thus, the percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

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Answer 2

Question

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%

The percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Conclusion

Thus, the percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

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Answer 3

Question

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%

The percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Conclusion

Thus, the percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

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Answer 4

Question

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%

The percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Conclusion

Thus, the percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%

The percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Conclusion

Thus, the percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Answer 6

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%

The percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Conclusion

Thus, the percentage change is 17% and thus, there is an increase of 117% percentage in the year 2017.

Answer 7

Chapter 13, Problem 1MCQ

To determine

Determine the sales trend percent for the year 2017.

Answer 8

Expert Solution & Answer

Answer to Problem 1MCQ

Option d: 117%

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Horizontal analysis: The comparison of an item of a financial statement of one year against the same item of the same financial statement of another year, to determine the relation between the two items, is referred to as horizontal analysis. Use the following formula to determine the percentage change:

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

Thus, sales trend percent for the year 2017 is as follows:

Percentage Change=100×Later Period Amount −Base Period AmountBase Period Amount=100×$351,000−$300,000$300,000=17%