Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 2021 2020 2018 $ $ $ 2019 $ 357,357 261,800 330,822 220,581 178,305 129,482 670,044 446,696 32,296 26,042 24,372 15, 289 Sales Cost of goods sold Accounts receivable Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: I Denominator: 1 1 1 1 I Numerator: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: I 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? / T / 1 Trend Percent for Accounts Receivable: Numerator: I Denominator: / 1 / 1 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? E = = = = = = = = 2017 $ 192,500 94, 325 13, 148 = Trend percent % % % % % Trend percent % % % % % Trend percent % % % % %
Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 2021 2020 2018 $ $ $ 2019 $ 357,357 261,800 330,822 220,581 178,305 129,482 670,044 446,696 32,296 26,042 24,372 15, 289 Sales Cost of goods sold Accounts receivable Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: I Denominator: 1 1 1 1 I Numerator: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: I 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? / T / 1 Trend Percent for Accounts Receivable: Numerator: I Denominator: / 1 / 1 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? E = = = = = = = = 2017 $ 192,500 94, 325 13, 148 = Trend percent % % % % % Trend percent % % % % % Trend percent % % % % %
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 83E
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