13, Peform a horizontal analysis on the following information ( Yes it is same info)

2015 2016

Cash $500,000 $200,000

Accounts Receivable 900,000 800,000

Inventory 700,000 500,000

Long term assets 2,200,000 2,500,000

Total Assets 4,300,000 4,000,000

14, A company had the following sales transactions

a, Total debit card sales = $200,000

b, Total credit card sales = $400,000

c, Total cash sales = $800,000

d, Total check sales = $100,000

There is a 2 % on all credit card transactions. Calculate total sales recorded for the year.

15, Shupe Ink. estimates uncollectible accounts based on the percentage of AR. What effect will recording the estimate (the expence) of uncollectible accounts have on the accounting equation. (increase, decrease no effect)

16, At December 31, Gill Co reported AR of $238,000 and an followance for uncollectible account of $600 ( credit balance ). An analysis of AR suggests that the allowance be 3% of AR. Meke sure adjusting entry to bring the allowance to the correct level.

17, Which accounting principle does the direct write-off method violate?

18, The allowance for uncollectible accounts is

a, an expence

b, a contra asset account

c, a contra revenue account

d, a liability account