FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
2020:
Is the trend percent for Net Sales favourable or unfavourable?
Numerator:
Trend Percent for Cost of Goods Sold:
1
Denominator:
1
1
1
1
1
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Cost of Goods Sold favourable or unfavourable?
Numerator:
Trend Percent Accounts Receivable:
Denominator:
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Accounts Receivable favourable or unfavourable?
1
1
Saved
=
11
m
#
H
Trend percent
Trend percent
%
%
%
%
%
%
%
de ge
%
%
%
expand button
Transcribed Image Text:2020: Is the trend percent for Net Sales favourable or unfavourable? Numerator: Trend Percent for Cost of Goods Sold: 1 Denominator: 1 1 1 1 1 2024: 2023: 2022: 2021: 2020: Is the trend percent for Cost of Goods Sold favourable or unfavourable? Numerator: Trend Percent Accounts Receivable: Denominator: 2024: 2023: 2022: 2021: 2020: Is the trend percent for Accounts Receivable favourable or unfavourable? 1 1 Saved = 11 m # H Trend percent Trend percent % % % % % % % de ge % % %
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whe
situation as revealed by the trend percents appears to be favourable or unfavourable.
Sales
Cost of goods sold
Accounts receivable
Numerator:
2024
$ 564,662
296,074
27,273
Numerator:
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Net Sales favourable or unfavourable?
2023
$364,298
191,135
21,275
1
1
1
Trend Percent for Net Sales:
1
$
1
1
2022
293,789
156,170.
20,095
Denominator:
Trend Percent for Cost of Goods Sold:
Denominator:
2024:
2023:
2022:
2021:
2020:
is the trend percent for Cost of Goods Sold favourable or unfavourable?
2021
2020
$ 212,122 $ 158,300
111,503
12,430
=
82,316
10,828
Trend percent
Trend percent
%
de 2
%
***
%
%
%
%
%
%
%
%
expand button
Transcribed Image Text:Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whe situation as revealed by the trend percents appears to be favourable or unfavourable. Sales Cost of goods sold Accounts receivable Numerator: 2024 $ 564,662 296,074 27,273 Numerator: 2024: 2023: 2022: 2021: 2020: Is the trend percent for Net Sales favourable or unfavourable? 2023 $364,298 191,135 21,275 1 1 1 Trend Percent for Net Sales: 1 $ 1 1 2022 293,789 156,170. 20,095 Denominator: Trend Percent for Cost of Goods Sold: Denominator: 2024: 2023: 2022: 2021: 2020: is the trend percent for Cost of Goods Sold favourable or unfavourable? 2021 2020 $ 212,122 $ 158,300 111,503 12,430 = 82,316 10,828 Trend percent Trend percent % de 2 % *** % % % % % % % %
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