FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Exercise 14-7 (Algo) Trend Percentages (LO14-1)
Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company's
current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:
Year 1
Year 2
Year 3
Year 4
Year 5
$ 4,549,430
$ 89,042
408,006
811,488
$ 1,308,536
$ 318,107
$ 4,740,670
$ 5,099,950
$ 5,469,600
$ 88,596
508,470
896,163
$ 5,724, 580
$ 83,446
579,239
Sales
$ 98,777
418,630
$ 95,764
449,800
Cash
Accounts receivable, net
Inventory
879,663
834,879
907,936
Total eurrent assets
ॐ 1,397,070
$ 1,380,443
$ 1,493, 229
$ 1,570,621
Current liabilities
$ 339,365
$ 342,764
$ 327,124
$ 393,311
Required:
1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers
to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
Year 1
Year 2
Year 3
Year 4
Year 5
Sales
Current assets:
Cash
Accounts receivable, net
Inventory
Total current assets
Current liabilities
ま ま
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Transcribed Image Text:Exercise 14-7 (Algo) Trend Percentages (LO14-1) Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company's current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows: Year 1 Year 2 Year 3 Year 4 Year 5 $ 4,549,430 $ 89,042 408,006 811,488 $ 1,308,536 $ 318,107 $ 4,740,670 $ 5,099,950 $ 5,469,600 $ 88,596 508,470 896,163 $ 5,724, 580 $ 83,446 579,239 Sales $ 98,777 418,630 $ 95,764 449,800 Cash Accounts receivable, net Inventory 879,663 834,879 907,936 Total eurrent assets ॐ 1,397,070 $ 1,380,443 $ 1,493, 229 $ 1,570,621 Current liabilities $ 339,365 $ 342,764 $ 327,124 $ 393,311 Required: 1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) Year 1 Year 2 Year 3 Year 4 Year 5 Sales Current assets: Cash Accounts receivable, net Inventory Total current assets Current liabilities ま ま
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