The following, Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased. Calculate thepercentage of changes from the previous year’s sale revenue. Describe whether the trend in Company L is more or less favorable than the trend in Company H.

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Answer 1

Question

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

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Answer 2

Question

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

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Answer 3

Question

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

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Answer 4

Question

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

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Answer 5

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

Answer 6

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

Answer 7

Chapter 3, Problem 3.2SDC

1.

To determine

The following,

Whether the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year and also describe the amount increased or decreased.

Calculate thepercentage of changes from the previous year’s sale revenue.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

Answer 8

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

Answer 9

2.

To determine

The following,

State the amount of largest expenses on the income statement of Company L for the year ended January 31, 2014. Also describe the transaction represented by the expenses.

Describe by what percentage the expenses get increased or decreased when compared to previous year.

Describe whether the trend in Company L is more or less favorable than the trend in Company H.

Answer 10

Expert Solution & Answer

Answer 11

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Answer 12

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Answer 13

Ch. 3 - Prob. 1Q Ch. 3 - When accounting was developed in the 14th and 15th...Ch. 3 - Define accrual basis accounting and contrast it...Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - Explain the expense recognition principle...Ch. 3 - Explain why stockholders equity is increased by...Ch. 3 - Explain why revenues are recorded as credits and...Ch. 3 - Complete the following table by entering either...

Solution Summary: The author explains how the sales revenue of Company L increased or decreased in the year ended January 31, 2014 as compared to the previous year.

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Chapter 3 Solutions