Question
11) Below is financial information for Mountain Lake Resort Inc., for the year ended April 30, 2021. Prepare the horizontal analysis for the year. (4)
11) Below is financial information for Mountain Lake Resort Inc., for the year ended April 30, 2021. Prepare the horizontal analysis for the year. (4)
| Mountain Lake Resort Inc. | ||||||
| Partial Statement of Financial Position | ||||||
| Year Ending April 30, 2021 | ||||||
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| Increase (Decrease) | |||||
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| Amount | % | ||||
| Assets | 2021 | 2020 |
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| Cash & cash equivalents | $550 | $600 |
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| Accounts receivables | 450 | 400 |
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| Inventory | 1,500 | 1,200 |
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| Other current assets | 200 | 175 |
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| Total | $2,700 | $2,375 |
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Modern Auditing
Authors: Guadarshan S. Gill, Cosserat Graham, Leung Philomena, Coram Paul
5th Edition
0471340723, 978-0471340720
