Selected information taken from the financial statements of Wiley Company for two successibe years follows. You are to compute the percentage change from year 1 to year 2 whenever possible. Round all calculations to the nearest whole percentage. Year 2 Year 1 a. Accounts Receivable $126,000 $160,000 b. Marketable Securities -0- 250,000 c. Retained Earnings 80,000 (80,000) d. Notes Recievable 120,000 -0- e. Notes Payable 890,000 800,000 f. Cash 84,000 80,000 e. Sales 970,000 910,000
Selected information taken from the financial statements of Wiley Company for two successibe years follows. You are to compute the percentage change from year 1 to year 2 whenever possible. Round all calculations to the nearest whole percentage. Year 2 Year 1 a. Accounts Receivable $126,000 $160,000 b. Marketable Securities -0- 250,000 c. Retained Earnings 80,000 (80,000) d. Notes Recievable 120,000 -0- e. Notes Payable 890,000 800,000 f. Cash 84,000 80,000 e. Sales 970,000 910,000
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 8EB: Using the following select financial statement information from Mover Supply Depot, compute the...
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Selected information taken from the financial statements of Wiley Company for two successibe years follows. You are to compute the percentage change from year 1 to year 2 whenever possible. Round all calculations to the nearest whole percentage.
Year 2 Year 1
a. Accounts Receivable | $126,000 | $160,000 |
b. Marketable Securities | -0- | 250,000 |
c. |
80,000 | (80,000) |
d. Notes Recievable | 120,000 | -0- |
e. Notes Payable | 890,000 | 800,000 |
f. Cash | 84,000 | 80,000 |
e. Sales | 970,000 | 910,000 |
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