FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Selected data from the comparative statements of financial position of Granger Ltd. are shown below:
Cash
Accounts receivable
Inventory
Property, plant, and equipment
Intangible assets
Total assets
Cash
Accounts receivable
Inventory
2024
Property, plant, and equipment
$152,000
606,000
783,000
3,144,000
92,000
2023
$177,000
400,000
595,000
2,793,000
98,000
$4,777,000 $4,063,000
2024
Using horizontal analysis, calculate the percentage of a base-year amount, assuming 2022 is the base year. (Round answers to 1
decimal place, e.g. 5.2%.)
%
%
%
2022
%
$75,000
453,000
706,000
2,863,000
0
$4,097,000
2023
%
%
%
%
2022
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Transcribed Image Text:Selected data from the comparative statements of financial position of Granger Ltd. are shown below: Cash Accounts receivable Inventory Property, plant, and equipment Intangible assets Total assets Cash Accounts receivable Inventory 2024 Property, plant, and equipment $152,000 606,000 783,000 3,144,000 92,000 2023 $177,000 400,000 595,000 2,793,000 98,000 $4,777,000 $4,063,000 2024 Using horizontal analysis, calculate the percentage of a base-year amount, assuming 2022 is the base year. (Round answers to 1 decimal place, e.g. 5.2%.) % % % 2022 % $75,000 453,000 706,000 2,863,000 0 $4,097,000 2023 % % % % 2022
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