Complete a horizontal analysis for the "Supplies" account. Round the percentage change to one decimal place Kristina's Consulting BusinessComparative Balance SheetsAs at 30/06/2020As at 30/06/2019Current assetsCash122,53680,145Accounts receivable (gross)183,692(21,200)96,411(5,200)Allowance for bad debtsNet accounts receivableInventorySuppliesPrepaid Rent162,49211,67591,2115,1673002103,0003,000Total Current Assets300,003179,733Non-current AssetsEquipmentLess Accumulated Depreciation150,000(16,000)150,000(8,000)Total Non-current Assets134,000142,000TOTAL ASSETS434.003321.733 Current LiabilitiesAccounts PayableLoan Payable - Short TermUnearned RevenueTotal Current Liabilities220,531340,00010,00017,57910,329367,579230,860Non-current LiabilitiesLoan Payable - Long TermMortgage33,0007,0002,000Total Non-current Liabilities40,0002,000TOTAL LIABILITIES407,579232,860Shareholders' EquityContributed CapitalRetained EarningsTotal Shareholders' Equity20,0006,42420,00068,87326,42488,873TOTAL LIABILITIES &434,003321,733SHAREHOLDERS' EQUITY

Horizontal analysis includes comparing the financial statements of one period with the other by…

Kristina's Consulting Business Comparative Balance Sheets As at 30/06/2020 As at 30/06/2019 Current assets Cash 122,536 80,145 Accounts receivable (gross) 96,411 (5,200) 183,692 Allowance for bad debts (21,200) Net accounts receivable Inventory 162,492 11,675 91,211 5,167 Supplies Prepaid Rent 300 210 3,000 3,000 Total Current Assets 300,003 179,733 Non-current Assets Equipment Less Accumulated Depreciation 150,000 150,000 (8,000) (16,000) Total Non-current Assets 134,000 142,000 TOTAL ASSETS 434.003 321.733

Kristina's Consulting Business Comparative Balance Sheets As at 30/06/2020 As at 30/06/2019 Current assets Cash 122,536 80,145 Accounts receivable (gross) 96,411 (5,200) 183,692 Allowance for bad debts (21,200) Net accounts receivable Inventory 162,492 11,675 91,211 5,167 Supplies Prepaid Rent 300 210 3,000 3,000 Total Current Assets 300,003 179,733 Non-current Assets Equipment Less Accumulated Depreciation 150,000 150,000 (8,000) (16,000) Total Non-current Assets 134,000 142,000 TOTAL ASSETS 434.003 321.733

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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